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.
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.