Lenovo’s H2 net profit tumbled 65.8% on year, to invest another $1 bn over next three yeas to accelerate AI deployment
Lenovo’s H2 net profit tumbled 65.8% on year, to invest another $1 bn over next three yeas to accelerate AI deployment

Lenovo’s H2 net profit tumbled 65.8% on year, to invest another $1 bn over next three yeas to accelerate AI deployment

Lenovo Group, the world’s largest PC maker, reported a revenue of $12.9 billion for the quarter ended June, sliding 23.9% from a year earlier. 

Net profit tumbled 65.8% year over year to $177 million, with earnings per share at 1.48 cents.

Lenovo said that it will invest an additional $1 billion over the next three years to accelerate the deployment of AI technologies and applications, including development of AI devices, AI infrastructure, and the embedding of generative AI technologies such as AIGC into vertical industry solutions to help customers achieve overall productivity gains.

The company said its Infrastructure Solutions Group (ISG), which has a comprehensive portfolio of AI products, is also investing $100 million to further develop its AI Innovator Programme, which in its first year has delivered over 150 leading AI solutions, more than 70 AI optimisation platforms and 45 independent software vendor partners.