When it comes to talking about Lenovo, the brand is known for its innovations that it has catered the world with. With so many launches and constant new releases, it was out of question that the tech brand was sure shot going to jump up the list in the Fortune Global 500 List that was released quite recently this year. Upon looking through the final list, it was witnessed the Lenovo jumped not 1 or 2 but 28 spots higher.
It was ranked in the 212th spot by the Fortune Global 500 list this year based on the companies with the highest grossing revenue. It was at the 240th position last year and has jumped 28 ranks higher in just a year. The company is believed to garner an annual turnover of around $51 billion which does leave behind some of the big brands like Cisco Systems and American Express behind it at 225th and 270th position in this year’s rankings.
This is the ninth consecutive year that Lenovo has been persistently making their spot in this Fortune Global 500 list, getting better with each passing year. While it was placed in the 450th rank in the year of 2011, the company has since then extrapolated their revenue generation and has extended their leap in the list by over 200 spots within a matter of 7-8 years now.
Yang Yuanqing, Lenovo Chairman and CEO issued a statement recently quoting:
“I believe Lenovo grew on the FORTUNE Global 500 list because we are always seeking out the next challenge—we are always searching for the next mountain to climb. Our goal is to become the leader and enabler of Intelligent Transformation by driving growth through Smart IoT and Smart Infrastructure.”
This growth in the rankings in the mentioned list succeeds a bout of strong performance along with the salient growth of the brand in terms of their productivity and revenue. The profit hit the record breaking $51 billion which was increased by 12.5% year on year which was enough to showcase the strong development of the brand as a whole.
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It was the strong will and focus on the Intelligent Transformation which paved way for the increased profitability by 459% with a total revenue increase by $856 million. This tech brand has spread its impacts on multiple industries including manufacturing, retail, healthcare and even the big cities across the world.
Lenovo is changing the facet of how users consume technology and utilise it. The latest launch with the PC with foldable screen is redefining the innovation all across. This is enough to cater the idea of Lenovo’s strong will to building better and smarter technology to help bring about transformation to the society and user experience.
With such promising results and innovation, the results under the Fortune Global 500 list for Lenovo seem to be brighter in the coming years.