At the end of June, top management representatives from Lenovo visited Russia for the first time. The Russian Federation was visited by leaders of all departments of the company: Chief executive Yang Yuanqing, Operational director of Lenovo Group Rory Read, President of the Division on Work in Emerging Markets Chen Shaopeng, Senior Vice-President of Grocery Business Division Liu Jun, and leaders from such key divisions of the company as the Financial and Marketing departments and the Department of Human Resource Management.
During the visit, the stable development of the business and achievement of the greatest indicators of growth among the five leaders in the personal computers market in the second half of the 2009/10 fiscal year were discussed. Growth of sales of Lenovo computers in the world has exceeded average indexes of the market more than twice, and the share of the company in the world market for PCs has reached a record mark: 8.8%.
“Consistent growth of financial indicators in comparison with the results of the 2008/09 fiscal year proves the fact that we have chosen the correct strategy for development and effectively put it into practice,” said Yang Yuanqing, Chief Executive of Lenovo Group. “We plan to continue successful development in the future, applying the ”Protection” and “Attacks” strategy and providing business development in key regions, such as Russia. We will also steadfastly watch changes in the economy and in the high-tech industry, and we intend to pay close attention to the development of our basic business: the manufacture of the personal computer. We will use all possibilities for growth in the sphere of mobile Internet devices.”
In the fourth quarter of the 2009/10 fiscal year, the growth of delivery of Lenovo computers worldwide has grown 59% while the average growth of the PC market has only grown about 27%. Over four consecutive quarters, the company’s growth has exceeded that of the market. In the 2009/10 financial year, Lenovo’s income was 16.6 billion dollars and the general growth of sales was 28.1%, while the average index of the personal computer market was 10.7%. The company made a $129 million profit.
In Russia, which is one of the key regions for the company, Lenovo has shown impressive results. Growth of sales for the 2009/10 fiscal year was 258%, and the 5.5% market share has been reached in the personal computers market and 8.0% in the laptops market. The company takes fifth place in the Russian personal computer market. For comparison, in 2007 Lenovo only occupied the 12th place in Russia with a mere 0.7% market share.
“Russia is one of the fastest growing regions for Lenovo’s business,” Rory Read, Operational Director of Lenovo Group said. “We have achieved impressive results thanks to an effective business model and innovative products. Russia is one of the key regions for our company, and we will continue investing in the further development of our relations with partners, expansion of an assortment of devices in the consumer segment, and small-scale business. Our goal in Russia is double figure indicators of the market share in the next one to two years.”
PR support of Lenovo in Russia is provided by Fleishman-Hillard Vanguard.
Lenovo provides innovative hi-tech personal computers. Lenovo’s business model is built on innovation, operational efficiency, and customer satisfaction as well as a focus on investment in emerging markets. Formed by Lenovo Group’s acquisition of the former IBM Personal Computing Division, the company develops, manufactures, and markets reliable, high-quality, secure and easy-to-use technology products as well as providing services to help customers worldwide be more productive and competitive. Lenovo has major research centers in Yamato, Japan; Beijing, Shanghai and Shenzhen, China; and Raleigh, North Carolina, USA. For more information, see www.lenovo.com