LENOVO GROUP LTD S/ADR - LNVGY STOCK NEWS

Lenovo has unveiled its new Lenovo Infrastructure Solutions V4 portfolio, powered by Intel Xeon 6 processors. This lineup aims to simplify the AI journey for businesses of all sizes by providing high-performance, efficient, and AI-enabled solutions. The ThinkSystem V4 portfolio offers a 4.3x performance increase and 4x more cores per rack, optimizing workloads across various industries. Enhanced with Lenovo Neptune liquid cooling, the solutions promise up to 40% power reduction. Lenovo also introduced AI-powered systems management for streamlined deployment and operation, alongside services to support AI adoption from edge to cloud. The new portfolio is designed to ensure AI accessibility, inclusivity, and security, featuring compliance with NIST SP800-193 standards and AI-powered code inspection for firmware.

Lenovo and Cisco have announced a global strategic partnership to accelerate digital transformation for businesses. They aim to deliver integrated infrastructure and networking solutions, focusing on generative AI and digital workplace productivity. The partnership includes the integration of Cisco’s Nexus ecosystem with Lenovo’s edge-to-cloud portfolio.

The Memorandum of Understanding (MoU) outlines plans for co-engineering solutions that enhance AI innovation and offer a single interface for network management. Benefits include faster innovation, improved security, and flexible implementation.

The collaboration will also leverage a network of channel partners to broaden customer choice and streamline digital transformation efforts.

Lenovo has been ranked 10th in the Gartner Supply Chain Top 25 for 2024, highlighting its excellence in supply chain management. This ranking reflects Lenovo's focus on security, digital transformation, and environmental sustainability. The company's global hybrid manufacturing network spans 30+ sites in 10 markets, ensuring a resilient and adaptive supply chain. In 2022, Lenovo's European facility in Hungary shipped over 1.5 million devices across EMEA. Lenovo is also committed to ESG initiatives, with a focus on reducing emissions and promoting a circular economy. Their AI-powered ESG assessment system helps customers make sustainability-focused decisions. Lenovo's supply chain security measures ensure product integrity, reinforcing its competitive advantage.

Lenovo Group (HKSE: 992, ADR: LNVGY) announced its Q4 and full-year results for the fiscal year 2023/24, showing significant growth. Q4 revenue increased by nearly 10% year-on-year to $13.8 billion, and net income doubled to $248 million. For the full year, revenue was $56.9 billion with a net income of $1 billion. The Solutions and Services Group (SSG) saw a 12% annual growth in revenue, while the Infrastructure Solutions Group (ISG) achieved a record Q4 revenue of $2.5 billion. The Intelligent Devices Group (IDG) reported $44.6 billion in annual revenue, with PCs resuming growth in the second half. Lenovo's AI strategy, featuring new AI PCs, is expected to drive further growth. The Board declared a final dividend of 3.8 US cents per share.

Lenovo has unveiled the Yoga Slim 7x and ThinkPad T14s Gen 6, the first Copilot+ PCs powered by Snapdragon X Elite. These AI-enhanced laptops feature the 12-core Qualcomm Oryon CPU, Adreno GPU, and Hexagon NPU, offering up to 45 trillion operations per second (TOPS). The devices promise multi-day battery life, offline Large Language Model capabilities, and enhanced productivity tools. The Yoga Slim 7x focuses on creative tasks with a 14.5” OLED display, while the ThinkPad T14s Gen 6 caters to business users with up to 64GB LPDDR5x memory and robust security features. Both models will be available from June 2024, with prices starting at $1,199 and $1,699, respectively.

Lenovo has announced its Victoria Day Sale, offering up to 62% off on select PCs and electronics starting May 13. This three-week sale includes significant discounts on laptops, gaming PCs, tablets, monitors, and accessories. Highlights include laptops starting under $750, desktops starting at $409, and up to 55% off on desktops. Additional savings include an extra 20% off select Lenovo accessories and up to $100 off purchases over $500 with the code 'BUYMORELENOVO' starting May 20. My Lenovo Rewards members will earn double loyalty points from May 20-27. Free shipping is available on all orders.

Lenovo's Memorial Day Sale, running from May 13 to June 2, offers up to 62% off on select PCs and electronics, with laptops starting under $550 and desktops from $301. The sale features significant discounts on gaming PCs, tablets, monitors, and accessories, with additional 20% off on select Lenovo accessories. Special promotions include double loyalty points for My Lenovo Rewards members and extra savings of up to $100 for purchases over $500 using the code 'BUYMORELENOVO' starting May 20. Notable deals include Yoga 2-in-1 laptops, IdeaPad laptops, and Legion gaming PCs at some of the lowest prices ever offered.

Lenovo launches AI-based Cyber Resiliency as a Service (CRaaS) to enhance customer security by leveraging device telemetry and Microsoft security solutions. The new solution offers protection, detection, response, and recovery across digital estates and devices, aiding business continuity amidst increasing cyber threats. By simplifying security procurement and offloading laborious tasks, Lenovo aims to improve business productivity and efficiency.