Lenovo reported strong Q3 performance for fiscal year 2024/25, driven by its hybrid-AI strategy and growth across all core business groups.

The company’s revenue surged 20% year-on-year to $18.8 billion, marking the third consecutive quarter of double-digit growth, while net income more than doubled to $693 million.

Non-PC revenue increased to 46% of the total, supported by growth in the Infrastructure Solutions Group (ISG), Intelligent Devices Group (IDG), and Solutions and Services Group (SSG).

Lenovo’s R&D investment rose by nearly 14% to $621 million, fueling innovations like the world’s first rollable AI laptop and a hybrid Windows/Steam OS handheld gaming device showcased at CES 2025.

IDG achieved double-digit growth with $13.8 billion in revenue, leading the PC market with a 24.3% share and recording strong smartphone sales, particularly in Asia Pacific and EMEA regions.

ISG revenue climbed nearly 60% to $3.9 billion, driven by its Cloud Services Provider segment and AI server business, reaching break-even and positioning for profitable growth.

SSG continued its 15-quarter streak of double-digit growth, generating $2.3 billion in revenue with a 20% operating margin, driven by AI-powered services and a rising share of non-hardware solutions.

Lenovo strengthened its global footprint, expanding manufacturing in the Middle East and securing strategic partnerships with Formula 1 and FIFA, becoming the official technology partner for the FIFA World Cup 2026 and FIFA Women’s World Cup 2027.

The company received top ESG and corporate governance accolades, including a Platinum medal from EcoVadis, ranking it in the top 1% of global companies for sustainability.

With a resilient supply chain and continued investment in AI innovations, Lenovo remains optimistic about sustaining growth and profitability despite macroeconomic challenges.