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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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Telecom Operators to Issue 14-Day Notice Before SIM Disconnection

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SIM Cards Nigeria

By Adedapo Adesanya

Telecommunications operators in Nigeria will now be required to give subscribers a minimum of 14 days’ notice before deactivating their SIM cards over inactivity or post-paid churn, following a fresh proposal by the Nigerian Communications Commission (NCC).

The proposal is contained in a consultation paper, signed by the Executive Vice Chairman and Chief Executive Officer of the NCC, Mr Aminu Maida, and titled Stakeholders Consultation Process for the Telecoms Identity Risks Management Platform, dated February 26, 2026, and published on the Commission’s website.

Under the proposed amendments to the Quality-of-Service (QoS) Business Rules, the Commission said operators must notify affected subscribers ahead of any planned churn.

“Prior to churning of a post-paid line, the Operator shall send a notification to the affected subscriber through an alternative line or an email on the pending churning of his line,” the document stated.

It added that “this notification shall be sent at least 14 days before the final date for the churn of the number.”

A similar provision was proposed for prepaid subscribers. According to the Commission, operators must equally notify prepaid customers via an alternative line or email at least 14 days before the final churn date.

Currently, under Section 2.3.1 of the QoS Business Rules, a subscriber’s line may be deactivated if it has not been used for six months for a revenue-generating event. If the inactivity persists for another six months, the subscriber risks losing the number entirely, except in cases of proven network-related faults.

The new proposal is part of a broader regulatory review tied to the rollout of the Telecoms Identity Risk Management System (TIRMS), a cross-sector platform designed to curb fraud linked to recycled, swapped and barred mobile numbers.

The NCC explained in the background section of the paper that TIRMS is a secure, regulatory-backed platform that helps prevent fraud stemming from churned, swapped, barred Mobile Station International Subscriber Directory Numbers in Nigeria.

It said this platform will provide a uniform approach for all sectors in relation to the integrity and utilisation of registered MSISDNs on the Nigerian Communications network.

In addition to the 14-day notice requirement, the Commission also proposed that operators must submit details of all churned numbers to TIRMS within seven days of completing the churn process, strengthening oversight and accountability in the system.

The consultation process, which the Commission said is in line with Section 58 of the Nigerian Communications Act 2003, will remain open for 21 days from the date of publication. Stakeholders are expected to submit their comments on or before March 20, 2026.

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Silverbird Honours Interswitch’s Elegbe for Nigeria’s Digital Payments Revolution

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Mitchell Elegbe Interswitch

By Modupe Gbadeyanka

The founder of Interswitch, Mr Mitchell Elegbe, has been honoured for pioneering Nigeria’s digital payments revolution.

At a ceremony in Lagos on Sunday, March 1, 2026, he was bestowed with the 2025 Silverbird Special Achievement Award for shaping Africa’s financial ecosystem.

The Silverbird Special Achievement Award recognises individuals whose innovation, vision, and sustained impact have left an indelible mark on society.

Mr Elegbe described the award as both humbling and symbolic of a broader journey, saying, “This honour represents far more than a personal milestone. It reflects the courage of a team that believed, long before it was fashionable, that Nigeria and Africa could build world-class financial infrastructure.”

“When we started Interswitch, we were driven by a simple but powerful idea that technology could democratise access, unlock opportunity, and enable commerce at scale.

“This recognition by Silverbird strengthens our resolve to continue building systems that empower businesses, support governments, and expand inclusion across the continent,” he said when he received the accolade at the Silverbird Man of the Year Awards ceremony attended by several other dignitaries, whose leadership and contributions continue to shape national development and industry transformation.

In 2002, Mr Elegbe established Interswitch after he was inspired by a bold conviction that technology could fundamentally redefine how value moves within and across economies.

Under his leadership, the company has evolved into one of Africa’s foremost integrated payments and digital commerce companies, powering financial transactions for governments, banks, businesses, and millions of consumers.

Today, much of Nigeria’s electronic payments ecosystem traces its foundational architecture to the systems and rails established under his leadership.

“Mitchell’s journey is inseparable from Nigeria’s digital payments evolution. His foresight and resilience helped establish foundational infrastructure at a time when the ecosystem was still nascent.

“This recognition affirms not only his personal legacy, but the broader impact of Interswitch in enabling commerce and strengthening financial systems across Africa,” the Executive Vice President and Group Marketing and Communications for Interswitch, Ms Cherry Eromosele, commented.

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SERAP Seeks FCCPC Probe into Big Tech’s Impact on Nigeria’s Digital Economy

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SERAP

By Adedapo Adesanya

The Socio-Economic Rights and Accountability Project (SERAP) has called on the Federal Competition and Consumer Protection Commission (FCCPC) to urgently investigate major global technology companies over alleged abuses affecting Nigeria’s digital economy, media freedom, privacy rights and democratic integrity.

In a complaint addressed to the chief executive of FCCPC, Mr Tunji Bello, the group accused Google, Meta (Facebook), Apple, Microsoft (Bing), X, TikTok, Amazon and YouTube of deploying opaque algorithms and leveraging market dominance in ways that allegedly undermine Nigerian media organisations, businesses, and citizens’ rights.

The complaint, signed by SERAP Deputy Director, Mr Kolawole Oluwadare, urged the commission to take measures necessary to urgently prevent further unfair market practices, algorithmic influence, consumer harm and abuses of media freedom, freedom of expression, privacy, and access to information.”

SERAP also asked the FCCPC to convene a public hearing to investigate allegations of algorithmic discrimination, data exploitation, revenue diversion, and anti-competitive conduct involving the tech giants.

According to the organisation, dominant digital platforms now act as private gatekeepers of Nigeria’s information and business ecosystem, wielding enormous influence over public discourse and market competition without sufficient transparency or regulatory oversight.

“Millions of Nigerians rely on these platforms for news, information and business opportunities,” SERAP stated, warning that opaque algorithms and offshore revenue extraction models pose both economic and human rights concerns.

The group argued that the alleged practices threaten media plurality, consumer protection, privacy rights, and the integrity of Nigeria’s forthcoming elections.

SERAP pointed to actions taken by the South African Competition Commission, which investigated Google over alleged bias against local media content, adding that the South African probe reportedly resulted in measures including algorithmic transparency requirements, compliance monitoring and financial remedies.

SERAP urged the FCCPC to take similar steps to safeguard Nigerian media and businesses.

The organisation maintained that if established, the allegations could amount to violations of Sections 17 and 18 of the Federal Competition and Consumer Protection Act (FCCPA), which prohibit abuse of market dominance and anti-competitive conduct.

SERAP stressed that the FCCPC has statutory authority to investigate and sanction conduct that substantially prevents, restricts or distorts competition in Nigeria.

It also warned that failure by the Commission to act promptly could prompt the organisation to pursue legal action to compel regulatory intervention.

Citing concerns reportedly raised by the Nigerian Press Organisation (NPO), SERAP said big tech companies have fundamentally altered Nigeria’s information environment, creating what it described as a structural imbalance of power that threatens the sustainability of professional journalism.

Among the allegations listed are: Algorithms controlled outside Nigeria determining content visibility, monetisation of Nigerian news content without proportionate reinvestment, offshore extraction of advertising revenues, limited discoverability of Nigerian websites and platforms, and lack of transparency in ranking and recommendation systems.

SERAP argued that declining revenues in the Nigerian media industry have led to shrinking newsrooms, closure of bureaus, and the emergence of news deserts, weakening journalism’s constitutional role in democratic accountability.

The organisation further warned that algorithmic opacity and data-driven micro-targeting could influence voter exposure to information ahead of Nigeria’s forthcoming elections, raising concerns about electoral fairness and transparency.

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