- Lenovo announces plans to establish its new MEA headquarters in Saudi Arabia
- It will manufacture “millions” of PCs and servers in a new factory
- The financial results are strong and Lenovo’s revenue is increasing
Lenovo and the Saudi Public Investment Fund company Alat have confirmed the completion of their $2 billion investment to “accelerate [Lenovo’s] continuous transformation” of “[enhancing] its global presence.”
More specifically, Lenovo will invest across supply chain, technology and manufacturing in Saudi Arabia with the hope of creating 1,000 new jobs in the region.
As part of the deal, the Hong Kong computer giant is set to build a new Middle East and Africa (MEA) headquarters in Riyadh, Saudi Arabia.
Lenovo is betting 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 units a year, with production beginning in 2026.
In its commitment to the Kingdom of Saudi Arabia (KSA), Lenovo will also use local R&D teams to build “completely 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 leveraging the incredible growth momentum in KSA and the wider MEA region.”
Alat CEO Amit Midha added: “With the establishment of a regional headquarters in Riyadh and a world-class manufacturing center, powered by clean energy, in the Kingdom of Saudi Arabia, we expect the Lenovo team to advance their potential throughout MEA region.”
In its latest financial report, Lenovo confirmed that its Intelligent Devices Group (IDG), which includes PCs and tablets among other devices, saw a 15% increase, beating expectations. Its infrastructure solutions group (ISG) revenue saw an even bigger increase of 65% year-on-year thanks to continued support for artificial intelligence.
