(Yicai) April 1 -- China’s Lenovo aims to lift annual revenue to more than USD100 billion within the next two years by aggressively expanding its artificial intelligence business, Chairman Yang Yuanqing said today. 

The world’s largest personal computer maker expects revenue for the fiscal year ended March 31 to have reached a record CNY560 billion (USD81.4 billion), with AI-related income doubling from the previous year to contribute one-third of the total, Yang, who is also chief executive, said at the Beijing-based company’s new fiscal-year kickoff meeting.

Over the next 12 months, every Lenovo product, solution, and service process will be designed and operated with AI at its core, Yang said. The company also plans to explore more AI-native devices, including AI wearables, new personal computers and smartphones built for AI agents, and local computing devices such as Personal AI Hub (Project Kubit) that support personal AI deployment.

For the first three quarters of the fiscal year just ended, revenue climbed 18 percent from a year earlier to USD61.5 billion, Lenovo’s financial report showed in February. AI-related income in the third quarter surged 72 percent to account for 32 percent of total revenue. 

Lenovo still faces challenges in meeting its growth targets, including a component shortage that has persisted since the second half of last year.

At a February earnings briefing, Yang said memory prices in the fourth quarter jumped 40 percent to 50 percent from the third quarter and are expected to keep increasing this year, although Lenovo’s scale, diversified supply chain, and long-term supplier relationships should help it weather the latest round of cost pressures. 

Editors: Dou Shicong, Emmi Laine