LENOVO GROUP LTD S/ADR - LNVGY STOCK NEWS

Lenovo (ADR: LNVGY) announces the launch of an integrated edge computing solution in collaboration with VMware, utilizing the ThinkSystem SE350 Edge Servers. This solution aims to streamline deployments at customer edge sites, enhancing operations and connectivity. Lenovo's Open Cloud Automation (LOC-A) is also updated to automate cloud infrastructure management, supporting thousands of remote sites. This tech advancement targets sectors like retail and manufacturing, promising significant cost savings of 30-40% for clients like T-Systems, facilitating hybrid work environments and improved data management.

Lenovo and RealWear announced a global collaboration to enhance enterprise XR solutions. RealWear's HMT-1 assisted reality devices will be certified for Lenovo's ThinkReality platform, allowing businesses to utilize hands-free 2D applications effectively. This partnership is set to expand Lenovo's offerings in the XR industry, providing optimized solutions to frontline workers. The ThinkReality platform includes advanced development tools and pre-built applications to ease deployment in various industrial settings, improving workplace safety and efficiency.

Lenovo's annual global innovation event, Tech World, will be held virtually on September 8, emphasizing the company's transformation amid rapid technological change. This year’s event will showcase solutions for hybrid working environments and feature keynotes from Lenovo's CEO Yuanqing Yang and industry leaders like Microsoft’s Satya Nadella. Attendees can expect insights into Lenovo’s new initiatives in AI, analytics, and green tech. The event is free and accessible in eight languages, highlighting Lenovo’s commitment to delivering smarter technology for all.

Lenovo is launching a Labor Day Sale from August 23 to September 13, offering substantial discounts on various electronics, including laptops, gaming PCs, and accessories. Customers can benefit from prices reduced by more than 50%, with specific products like the ThinkPad X1 Carbon Gen 9 seeing discounts of up to 44%. MyLenovo Rewards members will enjoy additional perks, including extra reward points and early access to deals. Highlights include a starting price of $239 for laptops and up to 60% off select accessories.

Lenovo Group (PINK SHEETS: LNVGY) achieved record fiscal Q1 results, with revenue soaring 27% year-on-year to US$16.9 billion and pre-tax income nearly doubling to US$650 million, reflecting a 96% increase. Net income also more than doubled to US$466 million, resulting in a net income margin of 2.8%. The company plans to double its R&D investments over three years and sees ongoing growth opportunities in vertical solutions and intelligent devices. Key segments like Solutions and Services Group (SSG) and Intelligent Devices Group (IDG) reported substantial revenue and profitability growth.

Lenovo achieved historic results for the fiscal year 2021, ranking #159 on FORTUNE's Global 500 List and #15 in the Technology sector. The company's revenue surpassed US$60 billion, marking an increase of over US$10 billion from the previous year, driven by growth across all core businesses. Lenovo’s strong position reflects its strategic focus on innovation and operational excellence. The company's outlook for 2021/22 remains positive, emphasizing sustainable business practices. Lenovo will report its fiscal Q1 results on August 11, 2021.

Lenovo Group (PINK SHEETS: LNVGY) has released a new report titled 'Beyond Boundaries,' which investigates the current state of business innovation in a post-COVID world. The report reveals that while businesses have embraced innovation to adapt to new demands, barriers remain, particularly in fostering diversity and a flexible work culture. Notably, 59% of companies report that senior leadership often halts risky innovation. Conversely, 49% of larger companies leverage innovation for improved environmental sustainability, reflecting a significant trend toward responsible business practices.

Lenovo announces its annual Back to School Sale running from July 19 to September 13, offering substantial discounts on various tech products. Key highlights include savings of up to 55% on PCs and 75% on selected tablets and accessories. The sale features doorbuster deals each week and deep discounts on ThinkPad laptops starting at $311. This initiative aims to equip students, parents, and educators with affordable technology in response to the increased demand for smart technology exacerbated by the pandemic.

Lenovo has launched its Back to School Sale from July 19 to August 22, offering significant discounts on laptops, gaming PCs, tablets, and accessories. Key highlights include laptops starting at $239 and discounts up to 75% on select items. MyLenovo Rewards members can enjoy additional savings, such as 10% sitewide discounts for students and teachers. Weekly deals promote substantial savings, with specific offers detailed for each week. Lenovo aims to provide affordable technology for students and educators as they prepare for the upcoming school year.