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The increased commitment to innovation, underpinned by environmental, social, and governance (ESG) commitments, comes as Lenovo continues its transformation from a devices company to a global tech powerhouse that also provides services and solutions.
Lenovo’s CEO outlined the group’s mission for the year ahead to build new growth engines, invest in new and emerging technologies, and continue driving sustainable profitability improvements.
R&D remains a crucial priority for Lenovo during this fiscal year. Around 5,000 new staff have already been brought into the company to support research across the new IT architecture of Client Edge Cloud Network Intelligence.
Yang stated, “My vision is for Lenovo to become one of the world’s leading ICT companies and a pioneer of intelligent transformation. Our investment plan will centre around the Client Edge Cloud Network Intelligence architecture, with a three-track approach to focus on short-, medium- and long-term payback. Our intention is to optimise between technology with quick market returns and foundational research, and between continuous improvement and breakthrough innovations.”
R&D efforts will focus on the new and emerging IT architecture. Teams will work on new products and business model innovation, incubating technologies from edge computing to technology that will help businesses capitalise on the metaverse and emerging innovations like next-generation AI and heterogeneous computing to help them prepare for the future.
Alongside its R&D commitments, Lenovo outlined its vision to become net-zero by 2050. The company is working with the Science Based Targets initiative to establish goals that support this transition. It has been reporting on its ESG commitments for the past 14 years, including outlining its goals around climate change mitigation, the circular economy, and sustainable materials. In 2020, Lenovo exceeded its 2020 emission reduction goals a year ahead of schedule and has already established science-based targets for 2030.
Yang further committed to positively impacting 15 million lives through philanthropic programmes and partnerships by 2025. The company’s mission provides smarter technology for all by empowering underrepresented communities with access to technology and STEM education.
“Lenovo is much more than business growth and financial success. We are innovators who are committed to helping solve humanity’s greatest challenges,” concluded Yang.
Lenovo is a Fortune Global 500 company serving customers in 180 markets around the world with $60 billion in revenue. Focused on a bold vision to deliver smarter technology for all, it is developing world-changing technologies that power – through devices and infrastructure – and empower – through solutions, services, and software – millions of customers every day and together create a more inclusive, trustworthy, and sustainable digital society for everyone.