Lenovo had a 50% lower profit in Spain in 2022



Lenovo Spain It recorded sales in the 2021/2022 financial year (ending March 31, 2022) of €695.8m, up 12.5% ​​from the previous year, although net profit was halved (-53%) to €1.5m due to depreciation, according to accounts filed in commercial register. Of the total turnover, 2.2% accounted for services – which amounted to 15.2 million euros – and hardware sales amounted to 680.6 million, up 11.4%.

The workforce has gone from 141 to 170 employees and personnel expenses have increased by 15% to €17.6 million. The operating result decreased by 34.4% to 7.74 million euros. The Chinese tech giant has been accused of declining sales of personal computers both nationally and globally due to inflationary tensions. During the past fiscal year (ending March 31, 2023), Lenovo invoiced $61.947 billion worldwide, down 14%. Worldwide earnings were 1,608 million, down 21%.

The company’s CEO, Yang Yuanqing, announced in May a personnel reshuffle and in parallel the promotion of sectors with high potential, such as services. However, the general manager of Lenovo Iberia (which includes Spain and Portugal), Alberto Ruano, indicated that the amendment will not affect Spain, and that after the boom caused by the epidemic in the sale of equipment due to the need for remote work, there has been a certain slowdown in sales, But it will recover between 2023 and 2024.

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