Chairman and CEO of Lenovo Group Yang Yuanqing delivered the opening speech at the 2018 Spring Festival Gala, stating that 2017 was a key year for Lenovo’s intelligence-based growth.
Yang summed up Lenovo’s performance last year as a three-wave strategy. The first wave was to maintain Lenovo’s leading position in the PC market. The second wave was to create mobile services and data center operations as new growth engines. The third wave was to capitalize on “equipment + cloud” and “infrastructure + cloud” opportunities. Lenovo will connect cloud content, cloud applications and cloud services. It will also produce PC, mobile phones, AR and VR.
Lenovo’s Q3 financial report showed a three-year record high of $1.3 billion in revenue. Pre-tax profit increased 48% to $150 million. Yang believed that the effectiveness of the three-wave strategy is evident from the company’s profit growth. The strategy not only promoted overall performance, but also pushed Lenovo business divisions to progress at different rates.
Yang stated that Lenovo’s performance fluctuations over the past two years were due to a combination of macroeconomic and industry trends and internal pressures. But, Yang said, “As long as we find the right direction, lay solid foundation, and work hard persistently, good results will eventually come naturally.”
Yang also pointed out a clear direction for Lenovo’s development in 2018: focusing on “intelligence” and “integrity”. The next steps for Lenovo will be focusing on data, computing power and algorithms. Lenovo will connect cloud content, cloud applications and cloud services by integrating commercial IoT and big data platforms.