Lenovo

Hong Kong-listed technology group founded in Beijing in 1984 that makes PCs, servers and Motorola smartphones. It reported revenue of $83.1 billion for FY2025/26 and is building a factory in Riyadh with PIF-owned Alat.

Industry: PCs, servers and smartphones | Location: Beijing, China | Founded: 1984 | Total Funding: USD 2B

About Lenovo

Lenovo Group Limited is a technology group founded in Beijing in 1984 under the name Legend. It trades on the Hong Kong exchange under the code 992, and Yang Yuanqing has served as chairman and chief executive since 2009. It makes personal computers, servers and, through Motorola, smartphones. For its 2025/26 financial year the company reported record revenue of USD 83.1 billion, up 20 percent, with adjusted net income of about USD 2 billion, according to its results release. Its Saudi activity centres on a manufacturing plant in Riyadh and a regional headquarters in the city, from which Tareq Alangari runs the Middle East, Türkiye and Africa business. Salman Faqeeh is vice president and general manager for Saudi Arabia. The factory sits on about 200,000 square metres at Riyadh Integrated, the Special Integrated Logistics Zone beside King Khalid International Airport. Lenovo describes it as its largest plant outside China and the first site in its network to produce laptops, desktops, Motorola phones and servers under one roof. On 31 August 2026, at LEAP, the company showed its first Riyadh-built notebook and said limited commercial runs would begin late in 2026. One regional interview pointed to December for all four production lines. Phase one targets two million units a year within 18 to 24 months, on investment of more than two billion riyals, and a possible second phase is sketched at up to eight million units. Alangari has said most output will be exported rather than sold locally. The project is tied to a strategic investment by Alat, the Public Investment Fund's advanced-manufacturing company. Lenovo said in January 2025 that the USD 2 billion investment had received shareholder and regulatory approvals and was complete. It was structured as three-year zero-coupon convertible bonds, reported as roughly a 12 percent stake once converted. Ground was broken at LEAP in February 2025. Alat projected 15,000 direct and 45,000 indirect jobs in Saudi Arabia from the investment. By early 2026 the partnership had a regional headquarters in Riyadh, a research and development mandate under Dr Rabeah Alzaidy, and a first cohort of 28 Saudi graduate engineers who trained in China with the Human Resources Development Fund and the industry ministry. Acting Alat chief Muhammad Aldawood has described the site as a capability-building project. Initial production is limited compared with the two-million-unit goal, the depth of local component manufacturing has not been published, and the job figures remain projections. Phase two depends on regional demand.

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