Lenovo is building a billion-dollar PC and server plant in Saudi Arabia

Date:
Fri, 10 Jan 2025 14:00:00 +0000

Description:
Together with a new headquarters, Lenovo will manufacture millions of PCs and servers at a new facility.

FULL STORY ======================================================================Lenovo announces plans to establish its new MEA HQ in Saudi Arabia It will manufacture millions of PCs and servers in a new plant Financial performance is strong with Lenovo revenues rising

Lenovo and Saudi Public Investment Fund company Alat have confirmed the completion of their $2 billion investment to accelerate [Lenovos] ongoing transformation by [enhancing] its global presence.

More specifically, Lenovo will invest across supply chain, technology and manufacturing in Saudi Arabia with the hope of generating 1,000 new jobs in the region.

As part of the deal, the Hong Kong computing giant is set to build a new Middle East and Africa (MEA) headquarters in Riyadh, Saudi Arabia. Lenovo
bets big on Saudi Arabia

Part of increasing its presence in the Middle East and Africa will include building a new manufacturing facility in Saudi Arabia to build PCs and servers. The company hopes to build millions of devices a year, with production beginning by 2026.

In its commitment to the Kingdom of Saudi Arabia (KSA), Lenovo will also use local R&D teams to build fully end-to-end Saudi Made products.

Lenovo CEO Yuanqing Yang commented: Through this powerful strategic collaboration and investment, Lenovo will have significant resources and financial flexibility to further accelerate our transformation and grow our business by capitalizing on the incredible growth momentum in KSA and the wider MEA region.

Alats CEO, Amit Midha, added: With the establishment of a regional headquarters in Riyadh and a world class manufacturing hub, powered by clean energy, in the Kingdom of Saudi Arabia, we expect the Lenovo team to further their potential across the MEA region.

In its most recent financial report , Lenovo confirmed that its Intelligent Devices Group (IDG), which comprises PCs and tablets among other devices, saw revenues rise 15%, exceeding expectations. Its Infrastructure Solutions Group (ISG) revenue saw an even bigger 65% year-over-year increase thanks to continued support for AI. You might also like These are the best business laptops and best mobile workstations Spending on data centers hit a high in 2024, but it won't last Weve curated a list of the best small business servers



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Link to news story: https://www.techradar.com/pro/lenovo-is-building-a-billion-dollar-pc-and-serve r-plant-in-saudi-arabia


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