• Lenovo Group average gross margin for 2023 was 17.13%, a 1.36% decline from 2022.
• Lenovo Group average gross margin for 2022 was 16.9%, a 2.42% increase from 2021.
• Lenovo Group average gross margin for 2021 was 16.5%, a 1.91% increase from 2020.

Gross margin can be defined as a company's total sales revenue minus its cost of goods sold, divided by the total sales revenue, expressed as a percentage.