Lenovo Australia and New Zealand has posted a bumper year for its latest financial year ending March 31, with post-income tax profit rising 116 per cent year-on-year to A$13.4 million.
This is a jump on the prior financial year, which clocked in at A$6.2 million, and even its financial year ending March 2018, which registered A$12.5 million.
Total revenue was also up 9.7 per cent to A$1 billion.
Focusing on PC device-related solutions, leading the charge for the A/NZ arm of the China-based vendor’s revenue from contracts with customers were notebooks, which accounted for over half at A$531 million, up 9.7 per cent compared to the previous year.
Following this were desktops with A$105 million, a decline of 22.8 per cent, and then visuals with A$71.3 million, an increase of 32.1 per cent. Additionally, revenue from services contracts was also on the rise, up 6.5 per cent to A$52.7 million.
Lenovo’s overall financial success in the region comes as it continued to hold onto the top global spot for shipping the most traditional PC devices out of all the major vendors during the second quarter of 2021, according to analyst firm IDC.
During the three-month period to June 2021, Lenovo shipped 20 million units, representing a market share of 23.9 per cent.
This just beat out HP, which shipped 18.6 million units, with a market share of 22.2 per cent.
It also comes months after the parent company refocused its business structure back in February, with three distinct business units. This includes the separation of its internet of things- (IoT) focused Intelligent Devices Group and the infrastructure solutions-geared Infrastructure Solutions Group, formally known as its Data Centre Group.
At the time, it also created a new division, named Solutions and Services, which offers smart verticals, attached services, managed services and ‘as a service offerings’ including Device-as-a-Service.