The FINANCIAL — Lenovo announced today that it ranked No. 231 in this year’s FORTUNE’s Global 500 list of the world’s largest companies by revenue, up from 286 on the 2014 annual list. Rising 55 spots in the rankings, Lenovo’s $46 billion in annual revenue puts the company just ahead of well-known global companies such as The Coca-Cola Company, at 232 and FedEx at 238. This is the fifth consecutive year Lenovo has appeared on the Global 500 list, steadily climbing in rankings year-over-year and jumping over 200 spots since returning to the list in 2011 at No. 450.
“Our position on the Global 500 list is a celebration of a monumental year for Lenovo, during which we realized 20% sales growth and completed our two largest acquisitions to date with Motorola Mobility and IBM System x,” said Yang Yuanqing, chairman and chief executive officer, Lenovo. “We are steadfast in our journey to become a $100 billion global technology leader that is known and respected around the world.”
Lenovo’s steady climb in the Global Fortune 500 rankings reflects a strong year in performance and growth for Lenovo. Full year revenue and profit hit a new record level, reaching more than $46 billion, up 20% year-over-year, demonstrating continuous strong momentum. A decade after the IBM PC acquisition, Lenovo’s core PC business remains strong, achieving record market share in 2015 as the undisputed worldwide market leader for two-years running, with continuous growth in revenue and profit. Lenovo is also spurring strong growth in mobile and enterprise as the third largest vendor in smartphones, tablets and x86 servers, according to Lenovo.