OREANDA-NEWS. Lenovo announced that it ranked No. 329 in FORTUNE’s 2013 listing of the world’s largest companies by revenue, up from No. 370 on the 2012 annual list. Jumping 41 positions in the rankings from 2012, Lenovo’s US\\$34 billion in annual revenue is now larger than such well-known brands as News Corp., American Express and Air France-KLM Group.  The ranking marks the third consecutive year that Lenovo has improved its position on the FORTUNE Global 500 list since returning at No. 450 in 2011, when the company’s highly successful “Protect and Attack” strategy first took hold.

“Our significant rise in the ‘FORTUNE Global 500’ ranking is evidence that our formula for success – a clear strategy, innovative products, great execution and a strong, diverse global team – is working,” said Yang Yuanqing, chairman and chief executive officer, Lenovo.  “As we look to the future, we will continue to build on our existing competitive strengths and drive profitable growth in PCs.  At the same time, we will aggressively attack high-growth opportunities in ‘PC Plus’ devices such as smart phones, tablets, convertibles and smart TV to become a leader in the ‘PC Plus’ era and one of the most respected technology companies in the world.”

The climb in Fortune’s prestigious ranking follows a strong year of growth for Lenovo.  For the full year ending March 31, 2013, Lenovo reported US\\$34 billion in annual revenue and achieved a record 15.5 percent market share in PCs worldwide.  At the same time, Lenovo significantly expanded its PC Plus offerings globally, and became the third largest maker of Smart Connected Devices worldwide, according to IDC. Lenovo’s strategy is to continue this momentum by protecting its profitable core PC business worldwide, attacking new high growth PC+ markets, and driving innovation across all of its products to  create new categories, significantly enhance the customer experience and set Lenovo apart as the PC Plus leader.