Lenovo revenues grow globally to $15.6 bln in Q4 of FY2020/21, Egypt among its top-4 markets

Doaa A.Moneim , Monday 7 Jun 2021

Q4 results showed that the group’s revenue grew past $60 billion, exceeding the previous fiscal year by $10 billion

Lenovo Group’s revenue grew globally by 48 percent (Y-o-Y) in the fourth quarter of FY2020/2021, achieving $15.6 billion, according to the group’s financial results issued on Monday.

Profit recorded its highest growth rate in two years — with a pre-tax income of $380 million and a net income of $260 million — going up by 392 percent and 512 percent, respectively.

Q4 results showed that the group’s revenue rose past $60 billion, exceeding the previous fiscal year by $10 billion.

Profit also grew, with a pre-tax income of almost $1.8 billion and a net income of $1.2 billion — both going up by more than 70 percent (Y-o-Y).

“As one of Lenovo’s top four markets in the MENA region, Egypt is a strategic country for Lenovo. We are proud of our balanced, consistent, and sustainable growth in this promising market, as we strive to promote our expansion plans in the years to come,” said General Manager for Egypt, Jordan, Lebanon, and North Africa Rony Mezeraani.

Egypt and LEVANT Country Manager Ola El-Dib said that over the past two years, Lenovo acquired the top place in market share for eight consecutive quarters, according to the International Data Corporation’s latest figures.

“Our overall market share in Egypt now stands at 31.8 percent, almost 10 points ahead of our nearest competitor. In Commercial & Consumer, Lenovo holds the no.1 market share, standing at 39.8 percent and 18.6 percent, respectively. Lenovo’s tablets also continue achieving the highest market share with 43.6 percent, compared to 32.6 percent in Q3 FY20/21, making this our highest growth across all segments,” El-Dib explained.

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