June 8, 2021

Lenovo acquires 31.8% of Egypt’s market share


ArabFinance: Lenovo Egypt maintained the highest market share for the fourth consecutive quarter (Q), amounting to 31.8% during Q4 of the fiscal year (FY) 2020/2021, according to the company’s recent press release.

Lenovo Group’s global Q4 revenue grew by 48% Year on Year (YoY), achieving $15.6 billion. Profit recorded its highest growth rate in two years – with pre-tax income of $380 million and net income of $260 million, up 392% and 512%, respectively.

In Q4, the group’s annual surged to $60 billion, adding more than $10 billion on the previous fiscal year.

Profit grew even faster, with pre-tax income of almost $1.8 billion and net income of $1.2 billion.

Lenovo’s tablets continue achieving the highest market share with 43.6% in Q4 of FY 2020/2021, compared to 32.6% in Q3.

In Commercial & Consumer, Lenovo holds the no.1 market share standing at 39.8% and 18.6%, respectively.

“We also continue our plans to expand our footprints in upper Egypt, Suez Canal, and Port Said in the near future due to the high demand on tablets and PCs,” Egypt and LEVANT Country Manager, Ola El Dib, said.

arabfinance


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