Technology
Lenovo Records Strong Double-Digit Growth in Quarterly Revenue
By Modupe Gbadeyanka
Lenovo Group has announced results for its first fiscal quarter ended June 30, 2018. For the second straight quarter, Lenovo achieved strong double-digit growth in revenue year-on-year.
Group revenue reached $11.91 billion, up 19% year-on-year. The company also reported strong pre-tax income during the quarter of $113 million, an improvement of $182 million year-on-year, as profitability improved across all businesses.
In the first fiscal quarter, Lenovo’s profit attributable to equity holders grew to $77 million, up $149 million year-over-year. Basic earnings per share in the first fiscal quarter was 0.65 US cents or 5.10 HK cents.
“As we persistently execute our 3-wave strategy, all our businesses made solid improvements in both revenue and profitability. Lenovo has passed the turning point and entered a phase of ‘acceleration’ – accelerating the execution of our transformation strategy and accelerating the rising momentum in business performance,” said Yang Yuanqing, Lenovo Chairman and CEO.
“In the future, we will maintain industry leading profitability and premium to market growth in PCs; return the smartphone business to health; build the data center business into a sustainable growth and profit engine, and continue to invest in ‘Smart IoT + Cloud’ and ‘Infrastructure + Cloud’ to drive long term sustainable return.”
With this Q1 FY2018/19 earnings report, Lenovo has turned a corner in its transformation and enters a new phase of growth, thanks to meaningful progress on its strategy and focus on “Intelligent Transformation” during the quarter. Lenovo’s decisive steps to consolidate key businesses into a streamlined, integrated enterprise, along with an emphasis on dynamic revenue generators, are quickly yielding significant returns.
Last quarter, Lenovo announced the creation of its new Intelligent Devices Group (IDG), combining its Personal Computer and Smart Devices Group with its Mobile Business Group. Rethinking the ways these units and their devices interact and impact customers led to IDG’s double-digit, quarterly revenue growth year-over-year, and PC unit market share gains in every geography.
At the same time, Lenovo is not only driving, but capitalizing on, global growth trends in both software and services.
Lenovo’s key business units each tallied significant growth and market strength during the quarter: The Intelligent Devices Group is energized by the synergy of shared platforms and resources, delivered a strong revenue growth of 14% year-on-year, amounting to $9.95 billion.
During the quarter, the PC and Smart Devices (PCSD) business under IDG delivered strong double digit revenue growth for the 2nd consecutive quarter, growing 19% year to year while maintaining industry leading profitability of 5%. Lenovo is the fastest growing player (by units) among the Top five global PC makers and returned to the global PC number one leading position according to Gartner. Outside of the core PC business Lenovo continues to invest in growing its portfolio of smart devices including smart home; smart office and AR/VR.
The Mobile Business Group (MBG) under IDG improved significantly during the quarter thanks to three key measures. Firstly, the group reduced operating expenses by more than US$100 million; secondly introduced a refined product portfolio and thirdly focused on selected markets where the company can compete profitably. With the refined product portfolio in place, the company focused on mainstream segments and successfully launched Moto G and E during the quarter. Revenue and volume continued to strengthen in Latin America in particular, outgrowing the market in both for seven quarters. In North America, Lenovo’s mobile volume nearly doubled year-on-year thanks to the right scaling strategy to expand to all four major carriers.
Building on a strong Q4, Lenovo’s Data Center Group (DCG) further accelerated its momentum, reporting another record revenue quarter of US$1.6 billion, the third consecutive quarter of double-digit revenue growth, and up 67.8% compared to the same quarter a year earlier. The record high revenue was driven by growth in Software Defined Infrastructure, High Performance Computing & A.I businesses and Hyperscale. Lenovo’s software-defined products, led by the new ThinkAgile brand, once again drove more than triple-digit growth year-on-year, and along with the announcement of the new ThinkAgile CP for next-generation composable cloud infrastructure. The Hyperscale business also grew by triple-digits year-on-year while improving gross profit and diversifying the customer base. Traditional infrastructure continued on a positive trend and flash-based storage solutions showed strong momentum at 42% YOY growth. This quarter also saw Lenovo surpassing HPE to become the #1 supercomputer provider on the TOP500 supercomputing list for the first time, with 117 systems.
With an eye to the future, Lenovo’s Capital and Incubator Group (LCIG) continues to invest and build the Group’s next-generation IT capabilities in AI, IoT, Big Data and VR/AR across various sectors such as manufacturing, healthcare and transportation.
Technology
PIAFo Leads Urgent Push for National Dig-Once Policy
Key players across Nigeria’s digital economy, telecommunications, and infrastructure ecosystem are set for the National Dig-Once Policy Forum to champion a new course towards increasing Nigeria’s digital backbone network to 125,000km of fibre-optic infrastructure.
The event, which marks the 8th edition of Policy Implementation Assisted Forum (PIAFo), is a high-level industry dialogue aimed at accelerating the formulation and adoption of a National Dig-Once Policy as a critical enabler of safe, coordinated and cost-effective fibre infrastructure deployment in the country.
The forum, themed Accelerating Nigeria’s Digital Backbone: Dig Once Policy, Project BRIDGE and Strategies for Effective Fibre Deployment, is slated for Thursday, April 16, 2026, at Radisson Blu Hotel, Ikeja GRA, Lagos.
According to the organisers, Business Metrics Limited (BML), the introduction of the $2 billion Project BRIDGE initiative by the Federal Government to expand fibre infrastructure by an additional 90,000km from 35,000km to 125,000km by 2030 requires some new measures to ensure the successful implementation of the ambitious target and avoid mistakes of the past.
Industry stakeholders have identified that the success of a national connectivity backbone rollout depends largely on institutionalising a Dig Once Policy framework, which encourages the installation of fibre ducts and conduits whenever roads, railways, and other major public infrastructure are being constructed or rehabilitated.
According to industry data shared by the Nigerian Communications Commission, lack of such a framework is taking a toll on the telecoms sector and broadband drive as operators recorded over 50,000 fibre cut incidents across the country in 2024, with more than 60 per cent occurring during road construction and rehabilitation activities. These disruptions have resulted in billions of naira in repair costs, network outages, and service degradation.
Telecom operators in Lagos State alone said they spent over N5 billion in 2024 to repair and replace damaged fibre infrastructure in the state, while lamenting that the development continues to slow down network upgrade and expansion drive.
Beyond infrastructure damage, telecom operators also face challenges such as high Right of Way (RoW) charges, uncoordinated civil works, and repeated excavation of roads for fibre deployment.
PIAFo 8.0 aims to address these challenges by fostering collaboration among stakeholders responsible for planning, financing, constructing, and maintaining Nigeria’s digital infrastructure.
Specifically, the forum seeks to align federal, state, and local infrastructure planning around a unified Dig-Once framework; strengthen collaboration between telecom operators, infrastructure companies, and public works authorities; translate policy intentions into actionable guidelines and implementation timelines; and build stakeholder support for Project BRIDGE and complementary national fibre initiatives.
Speaking about the event, Team Lead at Business Metrics Limited, Omobayo Azeez, said Nigeria is being denied access to the robust connectivity it should derive from up to eight high-capacity undersea cable networks landed on its shores because of difficulties around terrestrial fibre infrastructure expansion.
“The Project BRIDGE initiative should excite everyone because of its ambitious targets. But for those who understand the operating terrain and why it took the industry over 20 years to achieve around 35,000km of fibre network that the country currently operates for broadband connectivity, the project calls for a major shift in execution approach with the adoption of a National Dig-Once Policy as the starting point.
“PIAFo, now in its 8th edition, is again serving as the viable platform for representatives from government ministries and agencies, senior telecom executives, infrastructure companies, data centre operators, equipment manufacturers, state governments, and industry associations to chart the way forward.”
The forum will feature keynote addresses, expert panel discussions, and strategic networking sessions designed to drive pragmatic outcomes that will accelerate Nigeria’s journey toward a resilient and inclusive digital economy.
Technology
Nigeria, Finland Strengthen Ties on Digital Economy
By Adedapo Adesanya
The Nigerian government and the Republic of Finland have formalised a strategic partnership on digitalisation and innovation, signing a Memorandum of Understanding (MoU) aimed at expanding economic activities and strengthening cooperation in the digital sector.
The agreement was signed in Abuja by the Minister of Communications, Innovation and Digital Economy, Mr Bosun Tijani, and Mr Jarno Syrjälä, Under‑Secretary of State (International Trade) at Finland’s Ministry for Foreign Affairs.
According to a statement from the Special Assistant on Media and Communications to the communications minister, Mr Isime Esene, the MoU will establish a framework for collaboration across key areas, including digital government, emerging technologies, digital public infrastructure, cybersecurity, innovation ecosystems, and capacity building.
Mr Tijani described the signing as “an important step in strengthening the partnership between both countries as we work to build a more inclusive, innovation-driven digital economy.”
“This agreement is a significant next step following our engagements in Helsinki in February, where we met with key stakeholders, including Finnvera and Finnfund, and held productive discussions on advancing collaboration around digital infrastructure, the Data Exchange Platform, and opportunities for Finnish participation in Project Bridge.”
The Minister emphasised that the partnership would “unlock meaningful opportunities for both countries, enabling us to leverage digital transformation as a catalyst for sustainable growth and shared prosperity.”
Echoing this optimism, Mr Syrjälä said: “Finland is very pleased to deepen its partnership with Nigeria in building resilient, secure, and human‑centric digital societies. Digitalisation is at its best when it empowers people, strengthens trust, and creates new opportunities for innovation.”
“Nigeria is a key partner for Finland in Africa, and this MoU provides a strong basis for concrete cooperation between our governments, institutions, and private sectors. Together, we can advance digital solutions that are interoperable, future‑fit, and beneficial to both our nations,” he added.
Technology
Meta Launches AI Support Assistant on Facebook, Instagram
By Aduragbemi Omiyale
New Artificial Intelligence (AI) tools designed to provide support for users of its applications have been launched by Meta.
The AI Support Assistant will work on the Facebook and Instagram apps, the company said in a statement.
The tools will help users to receive reliable and action-oriented assistance when needed.
In December, the Meta AI support assistant, a tool designed to provide reliable, 24/7 support for nearly any support issue at any time, was previewed.
Now, Meta is rolling it out globally on the Facebook and Instagram apps for iOS and Android, and within Help Centre on Facebook and Instagram on desktop, with even more capabilities and ways to help.
The new Meta AI support assistant is designed to help resolve account problems from start to finish. It offers answers for any question, like notification settings or new features, and can also take action for users on a growing set of requests directly within Facebook and, in the future, on Instagram.
The feature can report scams, impersonation accounts, or problematic content, make it easier to see why content was taken down, provide appeal options, track what happens next, manage privacy settings, reset passwords, and update profile settings.
The Meta AI support assistant can respond to requests typically in under five seconds, dramatically reducing wait times compared to traditional help centre searches or seeking answers on external websites.
“The Meta AI support assistant is a major step in our work to deliver stronger support on our apps. In fact, among people who have provided feedback, the majority report a positive experience with the Meta AI support assistant. It’s rolling out now in all languages supported by Facebook and Instagram for support topics.
“We’re continuing to invest in AI- powered tools to make support more accessible, reliable, and effective — and we’ll keep evolving the Meta AI support assistant as more people use it and as the technology advances, so it continues to improve over time,” the organisation disclosed.
Meta has also deployed AI to improve content enforcement to help users reduce the chance that scammers trick people into giving away their login details, ultimately finding and mitigating 5,000 scam attempts per day that no existing review team had caught before.
Meta said over the next few years, it would be deploying these more advanced AI systems across its apps once they consistently perform better than its current methods of content enforcement, transforming its approach.
“As we do this, we’ll reduce our reliance on third-party vendors for content enforcement and focus on strengthening our internal systems and workforce.
“While we’ll still have people who review content, these systems will be able to take on work that’s better-suited to technology, like repetitive reviews of graphic content or areas where adversarial actors are constantly changing their tactics, such as with illicit drug sales or scams,” it stated.
-
Feature/OPED6 years agoDavos was Different this year
-
Travel/Tourism10 years ago
Lagos Seals Western Lodge Hotel In Ikorodu
-
Showbiz3 years agoEstranged Lover Releases Videos of Empress Njamah Bathing
-
Banking8 years agoSort Codes of GTBank Branches in Nigeria
-
Economy3 years agoSubsidy Removal: CNG at N130 Per Litre Cheaper Than Petrol—IPMAN
-
Banking3 years agoSort Codes of UBA Branches in Nigeria
-
Banking3 years agoFirst Bank Announces Planned Downtime
-
Sports3 years agoHighest Paid Nigerian Footballer – How Much Do Nigerian Footballers Earn










