• Lenovo Group average gross margin for 2023 was 17.22%, a 1.71% decline from 2022.
• Lenovo Group average gross margin for 2022 was 16.93%, a 1.32% increase from 2021.
• Lenovo Group average gross margin for 2021 was 16.71%, a 3.85% 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.