Top PC brands are looking for outside revenue through smart car tech | Biden News

[ad_1]

Lenovo Group Ltd will expand its metaverse and intelligent driving services as the world’s top PC market vendor aims to develop a “second line of growth” on top of its personal computer business.

Lenovo posted an unexpected increase in net profit in the third quarter, despite the decline in sales of the global computer market of almost 20 percent. Its business growth mainly stems from non-computer business.

The company will find a “second growth line”, adapting to a changing environment and demands with digital transformation and industrial structure upgrades, said Chairman Yang Yuanqing during Lenovo TechWorld, Lenovo’s annual new technology release event, held this week.

Business executives including Baidu CEO Robin Li, and leaders of automaker Geely and Chery were invited to speak at TechWorld.

Lenovo announced its merger of Baidu’s metaverse platform Xi Rang, and its expansion into “in-vehicle computing.” Yang said it covers smart cabin and autonomous driving computing sectors, but does not make cars directly.

In the third quarter, Lenovo posted a net profit of 3.7 billion yuan (US$514 million), a 5.7 percent increase year on year, exceeding analysts’ expectations of a profit decline.

By comparison, global PC market sales fell by nearly 20 percent in the quarter. The top vendors were Lenovo, HP and Dell, researchers including Gartner and Canalys said.

Lenovo’s non-PC business, accounting for 37 percent of its total revenue, grew rapidly, with the solutions and services group growing 29 percent, and IT system management gaining 69 percent. The data center business, which lost money in previous quarters, turned a profit in the third quarter.

[ad_2]

Source link