Lenovo Group Limited ( sehk: 0992, OTCBB: LNVGY) is China's largest and the world's fourth largest personal computer manufacturer (the latter since its 2005 purchase of IBM's PC division), after Hewlett-Packard and Dell of the U.S. and Acer of Taiwan.
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Lenovo Group Limited ( sehk: 0992, OTCBB: LNVGY) is China's largest and the world's fourth largest personal computer manufacturer (the latter since its 2005 purchase of IBM's PC division), after Hewlett-Packard and Dell of the U.S. and Acer of Taiwan.
Lenovo produces desktops, laptops, servers, handheld computers, imaging equipment, and mobile phone handsets. Lenovo also provides information technology integration and support services, and its QDI unit offers contract manufacturing.
Its executive headquarters are located in Beijing, China and in Morrisville, North Carolina, USA. It is incorporated in Hong Kong.
Products
Lenovo makes a variety of products for world wide sale. These products include:
- Lenovo ThinkCentre desktops
- Lenovo ThinkPad laptops and tablets
- Lenovo ThinkStation workstations
- IdeaCentre desktops
- IdeaPad consumer-oriented laptops
- Lenovo 3000 J Series desktops
- Lenovo 3000 C, N and V Series laptops
- LCD and CRT monitors
- ThinkVision projectors and monitors
The original IBM sale agreement between Lenovo and IBM allows Lenovo to sell IBM-branded desktops and laptops until 2010.
Ownership
As of October 31, 2008, 50.4% of Lenovo is owned by public shareholders, 42.3% by Legend Holdings Limited, 6.6% by Texas Pacific Group (TPG Capital), General Atlantic LLC and Newbridge Capital and 0.7% by the directors. Because the Chinese Academy of Sciences, a Chinese government agency, owns 65% of Legend Holdings, effectively the Chinese government owns about 27% of Lenovo and is the largest shareholder.
IBM became the owner of 18.9% of Lenovo in 2005 as part of Lenovo's acquisition of the IBM personal computing division. Since then IBM has steadily lowered its shareholding in Lenovo. In July 2008 the IBM shareholding went below the 5% reporting disclosure threshold. In February 2009 the CEO Bill Amelio was replaced with Yang Yuanqing.
History
Lenovo was formed in 1984 as a spin-off of the Chinese Academy of Sciences new technology unit. The company initially began as a reseller, distributor and later CM for foreign brands, including IBM, entering the Chinese market. In 1990, Lenovo started to manufacture its own PCs and by 1997 became the market leader in China. In 2004, Lenovo made the strategic choice to expand abroad and bought IBM's PC business for $1.25billion in order to facilitate this transition. The acquisition of IBM's ThinkPad brand represented a shortcut to brand building for Lenovo and provided the firm with an unprecedented global presence and access to new technologies and designs.
Marketing
Lenovo is active in making sure competitors make accurate and verifiable marketing claiming. Recently Dell has been receiving a lot of press coverage over its claim of having the world's most secure notebooks, specifically, its Latitude D630 and Latitude D830.
