Lenovo's Smartphone Business Shows Strong Growth, Q2 Revenue Up Nearly 24% Year-on-Year

Lenovo's Smartphone Business Shows Strong Growth, Q2 Revenue Up Nearly 24% Year-on-YearAccording to recent data from market research firm IDC, Lenovo's smartphone business has entered the top five in global markets (excluding China) in terms of total revenue. Meanwhile, research from TechInsights for the third quarter of 2024 indicates that Lenovo-Motorola witnessed the fastest growth among the top ten global smartphone manufacturers with a 26% shipment increase, propelling them to the seventh position globally

Lenovo's Smartphone Business Shows Strong Growth, Q2 Revenue Up Nearly 24% Year-on-Year

Lenovo Group's latest financial results for the second quarter of fiscal year 2024/25 show that the company's revenue reached RMB 127.9 billion, up nearly 24% year-on-year. Revenue across all major business units saw strong double-digit growth. Notably, the smartphone business delivered exceptional performance, with revenue surging 43% year-on-year, achieving the highest quarterly sales in history and reaching the highest market share in a decade.

According to recent data from market research firm IDC, Lenovo's smartphone business has entered the top five in global markets (excluding China) in terms of total revenue. Meanwhile, research from TechInsights for the third quarter of 2024 indicates that Lenovo-Motorola witnessed the fastest growth among the top ten global smartphone manufacturers with a 26% shipment increase, propelling them to the seventh position globally.

Lenovo-Motorola exhibits healthy growth trends across most global regions, with the acquisition of Fujitsu Japan already demonstrating its impact. TechInsights estimates that Lenovo-Motorola and Fujitsu (Arrows) brand smartphones combined shipped nearly 700,000 units in Japan, securing a top four spot in the Japanese market, trailing only Apple, Google, and Sharp.

In North America, Lenovo-Motorola maintains a strong third position, capturing a record-high 12% market share in the third quarter. Notably, Lenovo also secured the global championship in the vertical folding screen market with a dominant 30.8% share in the second quarter.

The robust growth in Lenovo's smartphone business is driven by its strategic global market positioning and product innovation. Lenovo consistently introduces innovative products that meet market demands and actively expands into emerging markets, delivering high-quality products and services to users. The company also actively fosters partnerships with operators, channel partners, and other stakeholders, building a robust sales network that provides a solid foundation for the growth of its smartphone business.

Looking ahead, Lenovo will continue to invest heavily in its smartphone business, continuously enhance product competitiveness, actively explore new market opportunities, and strive for even greater success in the global market.