Fortune has ranked Lenovo at number 212 in this year’s Fortune Global 500 list of the world’s largest companies by revenue, up from number 240 on the 2018 annual list.
Jumping 28 spots in the rankings, Lenovo’s $51-billion in annual revenue puts the company ahead of well-known global companies such as Cisco Systems, at number 225 and American Express at number 270.
Lenovo has appeared on the Global 500 list for nine consecutive years, steadily moving in rankings year-over-year and more than 200 spots since returning to the list in 2011 at number 450.
“I believe Lenovo grew on the Fortune Global 500 list because we are always seeking out the next challenge – we are always searching for the next mountain to climb. Our goal is to become the leader and enabler of Intelligent Transformation by driving growth through Smart IoT and Smart Infrastructure,” says Yang Yuanqing, Lenovo chairman and CEO.
The advancement in Fortune’s ranking follows a strong year of performance and growth for Lenovo. Full year revenue and profit hit a record-breaking $51-billion, up 12,5% year-on-year, demonstrating strong, continuous momentum. Lenovo’s focus on intelligent transformation drove a significant increase in profitability up four and a half times (459%) year-on-year at $856-million and net income at $597-million.