LENOVO GROUP LTD S/ADR - LNVGY STOCK NEWS

Lenovo's Labor Day Sale offers significant discounts on electronics and PCs from August 19 to September 8. Highlights include:

- Up to 68% off select PCs
- Discounts on laptops, gaming PCs, tablets, monitors, and accessories
- 2x My Lenovo Rewards points for loyalty program members
- Additional $100 off select products with code BUYMORELENOVO

Notable deals include:
- Yoga 7 2-in-1 starting under $700 (25% off)
- X1 Carbon Gen 11 starting under $1,750 (47% off)
- ThinkBook 16 Gen 6 starting under $750 (53% off)
- ThinkStation P3 Tiny starting under $900 (50% off)
- IdeaPad Slim 5i starting under $600 (29% off)
- Gaming laptops up to 28% off

The sale aims to provide affordable technology solutions for work, play, and school.

Lenovo Group (HKSE: 992) (ADR: LNVGY) reported strong Q1 FY 2024/25 results, with revenue up 20% year-on-year to US$15.4 billion and net income up 65% to US$315 million on a non-HKFRS basis. The company saw profitability improvements across all business areas and made significant progress in capturing hybrid AI opportunities. Non-PC revenue mix reached a historic high of 47%, up five points year-to-year.

Lenovo is positioning itself to lead in the era of hybrid AI with its full-stack portfolio, including AI PCs and servers. The company expects AI PCs to represent over 50% of the PC market by 2027. R&D spending increased 6% year-on-year to US$476 million. Lenovo also announced a strategic collaboration with Alat, a PIF subsidiary, involving convertible bonds and warrants issuance to accelerate transformation and expand in the Middle East.

Lenovo has partnered with Databricks as a Consulting & Systems Integration Select Tier Partner to accelerate AI adoption among its customers. The collaboration will leverage Lenovo's AI Center of Excellence (AI CoE) and Databricks' Data Intelligence Platform to help businesses enhance their data management capabilities and drive AI innovation. Key aspects include:

1. Streamlining access to data from multiple sources
2. Increasing the use of generative AI and improving data analytics
3. Providing end-to-end expertise in data management solutions and services
4. Offering support for cloud, data and AI strategy, data platform modernization, and AI/ML use cases

The partnership aims to address the challenges faced by organizations in deploying AI solutions quickly and effectively, as highlighted in Lenovo's recent CIO report.

Lenovo has appointed Dr. Tolga Kurtoglu as its new Chief Technology Officer, succeeding Dr. Yong Rui. Dr. Kurtoglu, known for his work in the IT industry, brings experience from roles at HP Inc., Xerox Palo Alto Research Center, and Dell. Lenovo has also formed a new Emerging Technology Group, to be led by Dr. Rui as President.

Dr. Kurtoglu will lead Lenovo's Research team, guide its innovation ecosystem, and align technological vision with business objectives. He joins the Lenovo Executive Committee. CEO Yuanqing Yang emphasized the appointment's significance in driving Lenovo's AI leadership forward. Lenovo's innovation vision and 'Smarter AI for All' focus will be showcased at Lenovo Tech World'24 on October 15, 2024.

Lenovo's Back to School Sale, running from July 22 to August 18, offers significant discounts on laptops, tablets, monitors, and accessories. Key highlights include:

• Savings of up to 70% on select technology
• Additional $100 off with code BUYMORELENOVO
• Extra 10% off for verified students and teachers
• ThinkPads up to 68% off
• Chromebooks starting under $400
• Gaming laptops starting under $1100

The sale features weekly promotions, My Lenovo Rewards member deals, and free standard shipping on all items. Customers can earn extra rewards points during the sale period, with 2x points on specific product lines.

The UK Court of Appeal has ruled in favor of Lenovo in its ongoing legal dispute with InterDigital regarding license rates for 3G, 4G, and 5G patents. The court established a modest royalty rate increase to 22.5 US cents per unit, which is only 6.5 cents more than Lenovo's proposed FRAND rate and significantly lower than the 49-50 US cents per unit sought by InterDigital. This decision upholds Justice Mellor’s initial ruling, including his finding of InterDigital's non-FRAND behavior. Lenovo has publicly offered InterDigital the court-determined rate of 22.5 US cents per unit to demonstrate its commitment to fair licensing practices.

Lenovo has launched new AI solutions aimed at industries to accelerate AI deployment and improve efficiency. The solutions include comprehensive services, business-ready applications, and the 6th generation Lenovo Neptune liquid-cooling technology. Lenovo's investment of US$1 billion over three years focuses on creating practical AI use cases across various sectors such as manufacturing, healthcare, and retail. The company collaborates with NVIDIA to offer enhanced AI capabilities, including AI Fast Start services for quick deployment and AI Innovator program solutions. Additionally, Lenovo emphasizes energy efficiency with its liquid-cooling technology, which reduces power consumption by up to 40%. The new solutions align with Lenovo's commitment to responsible AI and its Environmental, Social, and Governance (ESG) goals.

Motorola and Google Cloud have announced a multi-year partnership to integrate generative AI into Motorola's new razr smartphones, starting with the flagship razr+/razr 50 ultra models. Utilizing Google Cloud Vertex AI with Gemini and Imagen models, the Moto ai technology enhances user experience with features like task completion, relevant suggestions, and information recall. Key features include Magic Canvas for image creation and Style Sync for personalized themes. Moto ai, which will continuously evolve with new functionalities, is currently available in Latin America and Europe, and will soon be available for pre-order in North America, India, and select Asia Pacific countries.

Lenovo has launched the Lenovo Tab Plus, an 11.5-inch entertainment tablet designed for music enthusiasts. The tablet features eight JBL speakers, delivering 26W of premium stereo sound, and a 2K display for vivid visuals. It supports high-res audio of 24-bit and 96kHz frequency with Dolby Atmos tuning. Additionally, the Lenovo Tab Plus can function as a Bluetooth speaker and comes with a 175-degree adjustable stand.

The tablet is powered by a MediaTek Helio G99 processor, boasts an 8600 mAh battery for 12 hours of streaming, and supports 45W fast charging. It also offers up to 256GB storage, expandable via MicroSD, and is IP52 water and dust-resistant. The Tab Plus includes features like Immersive Reading Mode, Standby Mode, and a privacy dashboard, with software support extending to June 2028. Available now, the tablet starts at €279 or $289.99.