RESEARCH TRIANGLE PARK, NC – July 8, 2013: Lenovo (HKSE: 992) (ADR: LNVGY) announced today that it ranked No. 329 in FORTUNE’s 2013 listing of the world’s largest companies by revenue, up from No. 370 on the 2012 annual list. Jumping 41 positions in the rankings from 2012, Lenovo’s US$34 billion in annual revenue is now larger than such well-known brands as News Corp., American Express and Air France-KLM Group. The ranking marks the third consecutive year that Lenovo has improved its position on the FORTUNE Global 500 list since returning at No. 450 in 2011, when the company’s highly successful “Protect and Attack” strategy first took hold.
“Our significant rise in the ‘FORTUNE Global 500’ ranking is evidence that our formula for success – a clear strategy, innovative products, great execution and a strong, diverse global team – is working,” said Yang Yuanqing, chairman and chief executive officer, Lenovo. “As we look to the future, we will continue to build on our existing competitive strengths and drive profitable growth in PCs. At the same time, we will aggressively attack high-growth opportunities in ‘PC Plus’ devices such as smart phones, tablets, convertibles and smart TV to become a leader in the ‘PC Plus’ era and one of the most respected technology companies in the world.”
The climb in Fortune’s prestigious ranking follows a strong year of growth for Lenovo. For the full year ending March 31, 2013, Lenovo reported US$34 billion in annual revenue and achieved a record 15.5 percent market share in PCs worldwide. At the same time, Lenovo significantly expanded its PC Plus offerings globally, and became the third largest maker of Smart Connected Devices worldwide, according to IDC. Lenovo’s strategy is to continue this momentum by protecting its profitable core PC business worldwide, attacking new high growth PC+ markets, and driving innovation across all of its products to create new categories, significantly enhance the customer experience and set Lenovo apart as the PC Plus leader.
The Fortune Global 500 is a ranking of the top 500 corporations worldwide as measured by revenue. The list is compiled and published annually by FORTUNE magazine. For more information about the FORTUNE Global 500 list, please visit http://www.fortune.com.
Lenovo (HKSE: 992) (ADR: LNVGY) is a US$34 billion personal technology company – one of the top two PC makers in the world and an emerging PC Plus leader – serving customers in more than 160 countries. Dedicated to exceptionally engineered PCs and mobile internet devices, Lenovo’s business is built on product innovation, a highly-efficient global supply chain and strong strategic execution. Formed by Lenovo Group’s acquisition of the former IBM Personal Computing Division, the Company develops, manufactures and markets reliable, high-quality, secure and easy-to-use technology products and services. Its product lines include legendary Think-branded commercial PCs and Idea-branded consumer PCs, as well as servers, workstations, and a family of mobile internet devices, including tablets and smart phones. Lenovo, a global Fortune 500 company, has major research centers in Yamato, Japan; Beijing, Shanghai and Shenzhen, China; and Raleigh, North Carolina. For more information see www.lenovo.com.