BEIJING (dpa-AFX) - Yuanqing Yang, Chairman and CEO of technology products major Lenovo (LNVGY) on Monday announced the vision for the company for the new financial year, building on the recent commitment to double investment in R&D as well as setting up a vision to achieve net-zero by 2050.
The CEO said the Group would be hiring 12,000 R&D professionals around the world over the next three years, in addition to around 5,000 brought into the company during fiscal 2021-22, to support research across the new IT architecture of 'Client-Edge-Cloud-Network-Intelligence'.
The company is aiming to optimize between technology with quick market returns and foundational research, and between continuous improvement and breakthrough innovation. The CEO said the company is aspiring to become one of the world's leading ICT companies.
The R&D efforts would be focused around incubating technologies from edge computing to technology which would help businesses capitalize on the metaverse, and emerging and disruptive innovation like next-generation AI and heterogeneous computing.
Alongside its R&D commitments, Lenovo outlined its vision to become net-zero by 2050. The company said it was working with the Science Based Target Initiative to establish goals that support this vision. In 2020, Lenovo exceeded its 2020 emission reduction goals a year ahead of schedule and has already established science-based targets for 2030.
Shares of Lenovo closed Friday's trading at $22.07, up $0.70 or 3.26 percent from previous close.
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