MILAN, June 14 (Class Editori) — Lenovo has opened its first in-house manufacturing plant in Europe, based in Ullo, Hungary. As explained in a note, the plant focuses its resources primarily on building server infrastructure, storage systems and high-end PC workstations used by customers throughout the Europe, Middle East and Africa regions.
The investment, which expands Lenovo's international manufacturing operations, has significant economic potential for Hungary's public and private sectors through increased production capacity, the ability to better collaborate with local suppliers and the creation of new jobs.
The site already employs more than 1,000 full-time employees in a variety of engineering, management and operational roles, a number that will continue to increase as the plant approaches full capacity. Part of Lenovo's investment was supported with local government incentives through the Hungarian Investment Promotion Agency (HIPA).
Lenovo closed fiscal year 2021-2022, ended at the end of March, with record profits and revenues. Net income reached 2 billion dollars (1.87 billion euros), an increase of 72% over the previous year, while revenue grew by 10 billion dollars for the second year in a row, exceeding 71 billion dollars (66.3 billion euros). A strong growth was recorded in the mobile, infrastructure, solutions and services businesses. The Board of Directors announced a final dividend of 3.80 cents (3.55 eurocents) per share.
The company led by Chairman and CEO Yang Yuanqing explained that the digital and smart transformation trend continues to develop, offering the Group strong opportunities. More than half of companies have included digitization in their business strategy compared with just over a third two years ago. The hybrid work model is a long-term change that will continue to stimulate strong demand not only for smart devices and data center infrastructure but also for scenario-driven solutions such as smart collaboration, smart home and smart office.
The company highlighted its significant progress toward the goal of doubling its investment in R&D within three years, with a 43% year-on-year increase to 2 billion dollars. It also continues its strategy for achieving its ESG goals.
(Source:Class Editori)
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