Lenovo profits exceed expectations with the shift to remote work
Lenovo profits exceed expectations with the shift to remote work

The Chinese company, Lenovo, announced, Tuesday, that its profits for the third quarter of this year were better than expected, saying that it continues to benefit from remote work, which has become the norm after the emergence of the Corona virus (Covid-19) COVID-19.

The Chinese giant - the largest company in the world by production of personal computers: It has set new records in terms of sales, earnings before taxes and profits, and achieved annual growth for the first time in six quarters of three large corporate groups.

"The latest quarter is the perfect quarter for Lenovo," Chairman Yang Yuanqing said in an interview with Reuters after the results were announced. He added, "I hope the current quarter will be better."

The company's revenue increased by 7% to $ 14.5 billion. With the pandemic, companies all over the world are looking for ways to work from home and people are preferring to stay at home. The company hopes to benefit from the increased sales of computers and tablets.

"Gaming computers and thin and light computers are developing faster than other products," Yang said.

According to market research firm Gartner, global PC shipments increased 3.6% from July 1 to September 30, 2020, as demand for home entertainment and distance learning should increase. . The strongest market for computers in the United States in ten years.

Yang predicts that the entire PC market will see additional industry-wide growth of 5-10% over the next year.

Lenovo strengthened its leadership position in the IT field, with a market share of 25.7%, ahead of two US companies, HP and Dell, which accounted for 21.6% and 15.2%, respectively.

Yang said: The shortage of spare parts, especially the shortage of monitors and integrated circuits, prevents the company from 100% meeting customers' needs. He added, "The problem is not demand but supply. If we can meet enough supply, we can sell more products."

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