Lenovo, which operates in 180 markets, posted nearly $62 billion in revenue during its fiscal year ended March 31. Its advertising and promotion spending fell to $845.8 million that year, down from $1.13 billion the year before, according to its latest annual report. Lenovo did not disclose how much of its marketing budget is allocated to B2B, the piece won by Wunderman Thompson, and consumer marketing, where it partners with multiple agencies.
“We have all kinds of assets in the organization from the fact that we own Motorola, so there’s your pocket, all the way up to our infrastructure division to the cloud,” Ketchen said. “There's a huge opportunity for us to tell that story in a new and compelling and unique way.”
This will also include marketing AI and IT-related solutions for companies, said Ketchen, who noted how the corporate world experienced significant shifts during the height of the pandemic.
“With the market under pressure, we see lots of new opportunities in the next generation of AI PCs and devices,” Ketchen said. “To meet the needs of new generative AI workloads, the PC will move to a new category of AI PCs based on advanced chipsets. We see the future of AI PCs as a disruptive, hybrid blend of client, edge, and cloud technologies, ushering in enhanced functionality, speed, creativity, and immersive realistic experiences.”
In June, Lenovo announced it exceeded $2 billion in annual revenue from its AI infrastructure business and that it would invest $1 billion over three years to accelerate the use of AI in its solution for businesses, which includes its portfolio of smart devices.
“Over the next three years, the trend of digital and intelligent transformation will continue to drive strong growth of global IT spending, especially in IT services,” she said. “At the same time, overall demand for vertical solutions, including smart city, smart manufacturing, smart education, and smart retail is expecting strong growth through 2026. And driven by strong AI demand, the [information and communications technology] infrastructure upgrade is accelerating even further with strong growth expected in services, edge, and enterprise software.”