Lenovo's Q3 Results Hit Record High; Yang Yuanqing Warns Memory Prices May Double

On February 12, Lenovo Group announced its Q3 results for fiscal year 2025/26, with revenue reaching $22.2 billion, a year-on-year increase of 18%; adjusted net profit increased by 36% year-on-year, with profit growth doubling that of revenue. AI-related revenue surged 72% year-on-year, accounting for 32% of total revenue.

Despite the strong financial report, Lenovo Chairman and CEO Yang Yuanqing warned at the earnings conference that the rise in storage prices is far from over. He revealed that storage costs had already increased by 40% to 50% quarter-on-quarter last quarter, and the increase in Q1 2026 could further expand to double, with component prices likely to remain on an upward trend throughout the year.