A Lenovo booth at a telecommunication expo in Guangzhou, South China's Guangdong Province Photo: VCG

 Lenovo announced an evolution of its consumption-based business model, introducing Lenovo TruScale, a new portfolio-spanning service during its annual Tech World event on Wednesday.

This announcement is part of Lenovo’s continuing transformation for the new era, in which consumers and business leaders need new solutions and technologies to face unprecedented changes in business, education and beyond, according to the firm.

The announcement came as the epidemic has advanced the global digital transformation process, and has brought huge development space for IT services and solutions. China is also pushing development of the digital economy at present.

“Digital transformation is accelerating faster than ever, and companies are struggling to keep pace with the speed of innovation. We hear from chief information officers (CIOs) every day that their organizations’ technology needs are evolving every 12-18 months,” said Ken Wong, president of Lenovo’s solutions & services group. 

“With Lenovo TruScale, customers can expect one solution, one provider, one contract framework, and a single point of accountability for everything-as-a-service,” Wong said.

As the world shifts to a flexible “work, learn and connect-from-anywhere” model, organizations that embrace smarter technology designed for a hybrid reality will benefit from this transition, the firm said.

Regarding the future development of digital transformation, Lenovo CEO Yang Yuanqing said at the event that Lenovo will continue to increase investment in research and development as new IT creates an engine for the company’s development, adding that the firm will double its investment in research and development in the next three years.