Lenovo has moved up 52 places to rank 196 on the 2024 Fortune Global 500 list. In the technology category, it now stands at number 13. This is Lenovo’s 16th year on the list, which ranks companies across the world based on their yearly revenue.
The higher ranking is linked to Lenovo’s financial results for the 2024–25 financial year. The company reported revenue of USD 69.1 billion, a 21% increase from the previous year. Net income also grew by 36% to USD 1.4 billion based on non-Hong Kong accounting standards.
Lenovo’s results were shaped by its approach to growth through different business areas, along with its global operations. It uses a mix of in-house and outsourced manufacturing with over 30 production sites across 11 countries. This structure helps the company stay flexible and manage changes in the global market.
Lenovo also increased spending on research and development by 13% last year. This investment supported its progress in AI especially in its efforts to build hybrid AI solutions.
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