Lenovo Group has posted revenue of $10.6 billion (+11 percent) in fourth quarter of 2017-18, the first double digit increase in 10 quarters, with $33 million profit.
Lenovo Group’s revenue was $45.3 billion (+5 percent) in fiscal 2017-18 with $189 million net loss due to a one-time non-cash write-off charge of $400 million from deferred income tax assets in the U.S.
Lenovo said Personal Computers and Smart Devices (PCSD) reported revenue of $7.7 billion (+16 percent) in Q4 and $32.4 billion (+8 percent) in fiscal 2017-18.
Lenovo’s Data Center Group (DCG) revenue reached $1.2 billion (+44 percent) in Q4 and $4.4 billion (+8 percent) in fiscal 2017-18.
Lenovo’s Mobile Business Group (MBG) revenue was $1.3 billion in Q4 and $7.2 billion in the last 12 months. Lenovo did not reveal the growth percentage in mobile business, one of the ailing divisions for Lenovo.
Lenovo is optimistic that aggressive cost-cutting and exceptionally strong performances by MBG in Latin America (volume up 40 percent for the full year), and North America (volume up 57 percent for the full year) will yield substantially improved results in 2018-19.
“Last quarter, we resumed double-digit revenue growth with strong profitability improvement year-on-year, closing the fiscal year with a strong momentum and proving that Lenovo has truly entered a new phase of growth,” said Yang Yuanqing, chairman and CEO of Lenovo.
