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Lenovo Records Highest Quarterly Revenue in Four Years

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Lenovo Group has announced results for its third fiscal quarter ended December 31, 2018, posting its highest group revenue in four years of $14 billion, up 8.5 percent year-on-year.

The company reported strong pre-tax income of $350 million, up 133 percent, an all-time record for the company as all businesses continued to report profit improvements.

The Group recorded a net profit of $233 million for the fiscal quarter, significantly improved from the net loss of $289 million in the same quarter of last year, with the basic earnings per share in the third fiscal quarter at $1.96.

“When we set out on our journey of Intelligent Transformation, our goal was to restore and then accelerate Lenovo’s business momentum, while providing our customers and partners with the best technologies in smart IoT, smart infrastructure and smart vertical solutions.

“We’ve done exactly that and more – our strength and position as the industry’s most prolific global technology organization is firmly established.

“What I’m most pleased to see is how Lenovo is bucking the current industry trend – we’re strong, have delivered record-breaking results this quarter and are only getting stronger”, said Yang Yuanqing, Lenovo Chairman and CEO.

The Intelligent Devices Group (IDG) posted record revenue and profit; powered by its third straight quarter since inception of revenue growth, up 6.2 percent to $12.4 billion.

During the quarter, the PC and Smart Devices (PCSD) business under IDG reported $10.7 billion in revenue, up 11.6 percent and sequentially extending the group’s momentum from the previous quarter.

PC revenue grew 16 percent, outperforming the market by more than 17 points with PTI margin also improving by one percentage point.

Lenovo maintained its position as the world’s undisputed leader in PC sales with record market share of 24.6 percent. A focus on high-growth and premium segments saw Workstations, Thin and Light devices, and Visuals revenue outgrow the market by more than 30 points, Gaming by 16 points and Chromebook by over 220 points.

The Mobile Business Group (MBG) under IDG posted its first worldwide profit since the Motorola acquisition in October 2014. This notable achievement came from masterful execution on Lenovo’s strategy to reduce expenses, streamline the Group’s product portfolio and focus on core markets.

Notably North America saw a breakthrough quarter for the Group with volumes outgrowing the market by a staggering 40 points.

Additionally, MBG’s focus on other specific geographies is also showing significant results: Lenovo retains the #2 position in Latin America, despite currency fluctuations and supply constraints. In China, thanks to a range of new products under the Lenovo brand, the Group continued to build on the momentum quadrupling revenue and reporting strong growth in PTI margin.

Lenovo’s Data Center Group (DCG) reported its fifth consecutive quarter of profit growth (PTI margin up 3.6 percentage points) on a 31 percent increase in revenue to $1.6 billion.

In fact, DCG recorded YOY revenue growth in all geographies, highlighted by triple-digit growth in North America, and double-digit growth in Asia-Pacific, EMEA and Latin America.

The NetApp joint venture, which is now operational in China, will further strengthen the portfolio and expand business opportunities.

Hyperscale once again served as a significant contributor with triple-digit revenue growth and Software Defined Infrastructure (SDI) revenue grew almost 70 percent. The group not only remained number one on the TOP500 list of supercomputers globally, but also increased its lead.

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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Interswitch Inducts New Interns into Developer Academy to Fortify Tech Talent Pipeline

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Interswitch’s Developer Academy

By Aduragbemi Omiyale

A cohort of developer interns has been inducted into the Developer Academy of Interswitch as part of efforts to deepen Africa’s tech talent pipeline.

The new cohort emerged through a rigorous multi-stage process involving technical assessments and interviews. They were chosen from over 20,000 applications.

The talents were sourced from across key engineering tracks, including Backend Development, DevOps, Mobile Development, Frontend Engineering, and Quality Assurance.

Their induction highlights both the scale of interest in software engineering opportunities in Nigeria and Interswitch’s role in nurturing the next generation of highly skilled technology professionals.

During the 9-month programme, participants will benefit from mentorship by experienced professionals, exposure to enterprise-grade systems, and the development of workplace readiness skills essential for today’s dynamic work environment.

Designed as an intensive and structured learning experience, the Developer Academy combines theoretical instruction with real-world application, equipping participants with the skills required to thrive in an increasingly global and competitive technology landscape.

At the end of the programme, top-performing interns may be offered full-time roles within Interswitch, while others are well-positioned to pursue opportunities across the broader technology landscape.

“At Interswitch, we have always believed in the capacity to see beyond the immediate challenges and focus on long-term impact. While the migration of skilled talent remains a reality, our approach is to actively shape the outcomes by building a strong and sustainable pipeline of technology professionals,” the chief executive of Interswitch, Mr Mitchell Elegbe, said.

“We are therefore committed to equipping individuals with the capabilities to contribute meaningfully to the broader technology ecosystem, locally and globally, not just for our own needs at Interswitch. In doing so, we are not only strengthening the industry but also reinforcing Nigeria’s position as a source of globally competitive engineering talent,” he added.

Also commenting, the Human Resources Officer, Mr Franklin Ali, said, “The Developer Academy reflects our long-term commitment to building talent at scale. We are equipping these young professionals not just with technical skills, but with the mindset, discipline, and adaptability required to thrive in diverse environments.

“Whether they build their careers within Interswitch, contribute to the local ecosystem, or explore global opportunities, they represent the strength and potential of Nigerian talent and carry forward the standard of excellence we are committed to building.”

Beyond its immediate training objectives, Interswitch’s Developer Academy is anchored on a broader strategic vision, one that addresses the ongoing migration of skilled talent from Nigeria and other developing economies.

As global demand for software engineers continues to rise, many highly skilled professionals are increasingly recruited by international organisations.

Interswitch’s approach reframes this trend, positioning talent development both as a means of local capacity building and as an opportunity to strengthen Nigeria’s reputation as a global hub for technology expertise.

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Flexmobile to Disrupt Nigeria’s Telecom Landscape

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Flexmobile

By Modupe Gbadeyanka

Nigeria’s telecom landscape is about to be abuzz, with the much-anticipated launch of Flexmobile from Hazon Technologies.

Feelers indicate that the company will soon make a commercial debut, as the regulatory approval is now in the final stage.

It was gathered that the commercial rollout for Flexmobile should be June 1, 2026, as this depends on the authorisation of the Nigerian Communications Commission (NCC), which regulates the sector. The telco will have the distinctive 081 number series.

Early signals suggest a product ecosystem engineered around flexibility, data-centricity, and user control—an approach aligned with the evolving expectations of Nigeria’s digitally connected population.

For seamless operations, Flexmobile has sealed commercial agreements with its MVNE, IMBIL, and Airtel Nigeria.

“What lies ahead is more than a launch—it is the beginning of a new way to experience telecoms in Nigeria,” the chief executive of Hazon Technologies, Mr Victor ‘Gbenga Afolabi, said at a recent media briefing.

“After years of building the right partnerships and infrastructure, we are approaching a defining milestone. Flexmobile is designed to challenge conventions and introduce a smarter, more flexible telecom experience for Nigerians,” he added.

While full details of its offering will be unveiled at launch, Flexmobile is expected to introduce a suite of value-added services designed to go beyond traditional connectivity—positioning the brand at the intersection of telecoms, lifestyle, and digital enablement.

Backed by strong institutional partnerships and a robust MVNE framework, Flexmobile enters the market not just as another operator, but as a platform with the potential to reshape how telecom services are consumed and experienced.

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ipNX, NCC to Drive Inclusive Digital Growth Across Nigeria

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ipNX Nigeria NCC

By Aduragbemi Omiyale

A leading Information and Communications Technology (ICT) company, ipNX Nigeria, is joining forces with the Nigerian Communications Commission (NCC) to accelerate broadband penetration and drive inclusive digital growth across the country.

Recently, an executive delegation of the organisation paid a visit to the chairman of the regulatory agency, Mr Idris Olorunimbe.

“We are pleased to engage with the new chairman of the NCC and show our support as he takes on this important role.

“Strong leadership and a clear policy direction are essential to unlocking the full potential of Nigeria’s digital economy.

“At ipNX, we remain committed to working closely with the commission and other stakeholders to expand broadband access, enhance connectivity in educational institutions, and ultimately bridge the digital divide.

“This collaboration will empower millions of Nigerians and further position the country as a leader in Africa’s technological evolution,” the Managing Director of ipNX Nigeria, Mr Ejovi Aror, said at the visit.

In his remarks, Mr Olorunnimbe thanked the firm for the show of support, reiterating the commission’s commitment to fostering an enabling environment for private sector participation in achieving universal broadband access across Nigeria.

This collaboration is expected to advance Nigeria’s transformation agenda in technology and help boost the federal government’s broadband agenda for the country.

ipNX Nigeria has said it remains at the forefront of delivering cutting-edge broadband and ICT solutions, and this engagement underscores its unwavering dedication to supporting national development through technology-driven initiatives.

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