Lenovo Aims to Boost Middle East Business from $1.2 Billion to $6 Billion in Three Years
TMTPOST--Lenovo Group has announced ambitious plans for its Middle East operations, with a target to expand its business in the region from $1.2 billion to $6 billion over the next three years.
This follows a significant investment from a Middle Eastern sovereign wealth fund, which Lenovo's CFO, Huang Weiming, revealed in a recent update. Many funds in the region are keen to invest in high-quality companies, and Alat is expected to play a key role in supporting Lenovo’s growth in the Middle East, aligning with the company’s strategic vision.
Currently, Lenovo's Middle Eastern business represents approximately 2% of its global revenue, totaling around $1.25 billion. Lenovo Chairman and CEO Yang Yuanqing stated during a financial report media briefing that the goal is for the Middle East to contribute nearly 10% of Lenovo’s total revenue. Based on last year's figures, this would equate to $6 billion.
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