Lenovo India logs $1.9 bn in FY23, over 5 mn products being made locally
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Consumer technology major Lenovo on Wednesday said that it registered a total of $1.9 billion revenue in India in FY22-23.
After a year of industry and global uncertainties, Lenovo sais it is witnessing positive signs of the market stabilising and expects the entire PC and smart devices market to resume year-to-year growth in the second half of 2023.
"While we are experiencing a cyclical slowdown in the PC segment, our growth engines of Solutions and Services Group (SSG), Motorola, and Infrastructure Solutions Group (ISG), have played a pivotal role in mitigating the downturn," Shailendra Katyal, Managing Director, Lenovo India, said in a statement.
"We have supported this growth by investing in nurturing local talent and capabilities in India and continue to expand our local manufacturing presence, with over 5 million products being made in India," he added.
While Group revenue was impacted due to the softness in the device market, revenue from non-PC businesses reached a fiscal year high of nearly 40 per cent, fuelled by Solutions and Services Group (SSG) and Infrastructure Solutions Group (ISG).
