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Lenovo has announced updates to its IoT business that reveal the computer manufacturing company’s push to grow its presence in the IoT market. The company will quadruple its investments in its IoT business and is developing an all-in-one enterprise IoT solution bundle that combines hardware, software, and services.
The IoT investment is “the single largest investment the company is going to make this year,” according to Wilfredo Sotolongo, VP and chief customer officer for Lenovo’s Data Center Group, per CRN.
Here’s what it means: Lenovo sees IoT as an opportunity to grow beyond its core personal computer (PC) business, and it can leverage its existing enterprise relationships to do so.
Currently, Lenovo is a giant in the stagnating PC market. The company was one of the top PC vendors by shipments in 2018, neck and neck with HP. Although Lenovo grew its market share year-over-year (YoY) in 2018, the overall number of PC shipments fell by 1.3%. That marked the third straight year of declining shipment numbers: The PC market saw a 0.2% YoY decline in 2017 and a 1.5% YoY decline in 2016.
In an effort to diversify, Lenovo is making significant IoT investments to win over enterprise IoT clients, especially from among its existing customer relationships and contracts. Lenovo has invested in building up its enterprise IoT offering with new products and services, like its all-inclusive IoT Solution Bundles and a new Smart Vertical Group, to better tailor IoT solutions for specific industry use cases. To sell these enterprise products, the company can rely on its current base of clients from …read more
Source:: Business Insider