Lenovo Outlines Company Transformation Strategy – from Devices to Solutions Company

MORRISVILLE, NC, April 14, 2021 – Today, during its annual global employee kickoff event broadcast to 63,000 employees, Lenovo unveiled its plans to drive transformation from a global devices company to a technology leader in global devices + solutions, services, and software.  Lenovo CEO Yang Yuanqing and other executive leaders outlined the company’s strategy, structure, and goals that will fuel Lenovo’s next decade of growth and position it as one of the world’s most trusted and iconic technology leaders, delivering smarter technology for all.

“Last year at this time, none of us knew how things would turn out for Lenovo,” said Lenovo CEO Yuanqing Yang. “But we did know this: we would support each other in an unpredictable journey ahead; we would fight for the best possible outcome in an uncertain world; and we would use our technology to connect and heal a wounded society.”

During the past year the COVID pandemic drove many businesses and consumers around the world to adopt and use technology innovations in new ways, from remote learning to treating patients to pivoting their business models. They counted on Lenovo’s unique ability to provide the devices and solutions they needed to survive and thrive in this challenging environment. Lenovo’s committed, diverse global workforce ensured the company met the global need for technology solutions being the first to resume manufacturing after facilities closed early on in the pandemic, building a new factory in 47 days, and launching an impactful charitable donation effort.

Lenovo’s operational and workforce resilience has led to significant growth across all areas of the business, the doubling of the company’s share price year over year, and has positioned Lenovo for its fourth transformation during its 35 year history into a broader technology leader that combines devices + services + software + solutions.

“Our share price has doubled,” Yang said. “This not only shows our outstanding execution, but also that the market views Lenovo as a resilient, winning company. We were a strong team before the pandemic, and an even stronger team after.”

Further, Lenovo plans an additional listing on the Shanghai stock exchange, broadening investor access and unlocking greater value. This growth happens in tandem with Lenovo’s strong commitment to sustainability, as seen through a 92 percent reduction in scope 1 and scope 2 greenhouse gas emissions. Lenovo also remains committed to environmentally sound transformation, with ambitious science-based targets and identifying what it will take to reach net-zero emissions by 2050.

Lenovo’s strategy for the next decade of growth leverages all of the strong “building blocks” the company has today and combines them into end to end solutions that align to the tech market trends and solve customer business problems in three ways:

Effective April 1, 2021 Lenovo aligned its business groups around a new organizational structure focused on Smart IoT, Smart Infrastructure and Smart Verticals:

Speaking to employees around the world, company Chairman and CEO Yang outlined ambitious goals to accelerate the company’s transformation over the next fiscal year, including:

“We have an exciting future, but it takes solid steps to get there on our intelligent transformation journey,” Yang said. “Be proud but not complacent. Be optimistic but stay resilient. Aim high but stay grounded.”