By : Nahla Makled – Adel Farig
Lenovo Egypt announced its financial results for the fourth quarter of their fiscal year, along with the group’s results of financial year 20/21, reflecting outstanding growth across all aspects of the business. The company has successfully maintained the highest market share for the fourth consecutive quarter, amounting to 31.8% in Q4.
General Manager for Egypt, Jordan, Lebanon & North Africa, Rony Mezeraani, said: “Building on our 3S (Smart IoT, Smart Infrastructure, Smart Solutions) corporate strategy, Lenovo Group’s global Q4 revenue grew by 48% year-to-year, achieving USD 15.6 billion. Profit recorded its highest growth rate in two years – with pre-tax income of USD 380 million and net income of USD 260 million – up 392% and 512% respectively. The Q4 results closed out a record year, with annual Group revenue surging past USD 60 billion, adding more than USD 10 billion on the previous fiscal year. Profit grew even faster, with pre-tax income of almost USD 1.8 billion and net income of USD 1.2 billion – both up more than 70% year-on-year.”
He added: “As one of Lenovo’s top 4 markets in the MENA region, Egypt is a strategic country for Lenovo. We are proud of our balanced, consistent and sustainable growth in this promising market, striving to promote our expansion plans in the years to come.”
Egypt and LEVANT Country Manager, Ola El Dib, said: “Thanks to our robust system and performance in Egypt for the past two years, Lenovo acquired the no.1 in market share for eight consecutive quarters, according to IDC’s latest figures. Our overall market share in Egypt now stands at 31.8%, almost 10 points ahead of our nearest competitor. In Commercial & Consumer, Lenovo holds the no.1 market share standing at 39.8% & 18.6% respectively. Lenovo’s tablets also continue achieving the highest market share with 43.6%, compared to 32.6% in Q3 FY20/21, making this our highest growth across all segments.”
She added: “Enriching the Egyptian market with our latest technology to cater various customers’ needs, Lenovo celebrates launching its cutting-edge recent models of legion laptops tailored for gamers. 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. Complying with Lenovo Group’s innovation strategy, Lenovo Egypt prioritizes optimization of networks and infrastructure.”