Lenovo India Reports 23% Revenue Growth in September Quarter

Bengaluru, November 20: Lenovo’s India business posted a strong financial result for the quarter ended September 30. It recorded a 23% YoY rise in its revenue to USD 1.2 billion. The strong performance was driven by factors such as increased digitisation, premium product adoption and improved consumer sentiment following the GST restructuring.

Lenovo India is the Indian subsidiary of global technology company, Lenovo Group Limited. It operates as the sales, marketing, and distribution arm for the multinational company’s products across the Indian market. The company was established in 2005, and is headquartered in Bengaluru, Karnataka.

Strong Momentum Across All Business Verticals

Lenovo India Vice President and Managing Director Shailendra Katyal said the company saw healthy demand across categories, with growth coming from retail, MSME and enterprise customers. He noted that Lenovo is leveraging India’s increasing role as a hub for digital capability centres and enterprise transformation. Katyal added that the company’s end-to-end AI-powered solutions significantly contributed to its quarterly growth.

Global Revenue Climbs But Net Income Dips

At the group level, Lenovo Group recorded an all-time high quarterly revenue of USD 20.5 billion. This was a YoY rise of 15%. However, its net income attributable to equity holders stood at USD 340 million, down 5% from the previous year. AI-related revenue accounted for 30% of the group’s total, rising 13% from the previous year. The surge was driven by strong traction in AI servers, AI PCs, AI smartphones and AI services.

Focus on Personal and Enterprise AI

Lenovo Group CEO Yuanqing Yang said the company is building on the global shift being seen in AI democratisation. He highlighted that the company is looking to combine global scale with local execution. It will be done to unlock hybrid AI opportunities for individuals and enterprises.

The strong revenue sets the stage for a future Lenovo India IPO. For now, the shares are not listed on any exchanges. Investors will be waiting for the group to consider the IPO of Lenovo India down the line.

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