Though Lenovo, as a brand, came into existence only in 2004, the company has a much longer history. In 1984, Legend Holdings was formed with 200,000 RMB ($25,000) in a guardhouse in China. The company was incorporated in Hong Kong in 1988 and would grow to be the largest PC company in China. Legend Holdings changed its name to Lenovo in 2004 and, in 2005, acquired the former Personal Computer Division of IBM, the company that invented the PC in 1981.
Today, Lenovo is a $34 billion personal technology company and the world’s largest PC vendor. Lenovo has more than 33,000 employees in more than 60 countries, serving customers in more than 160 countries. A global Fortune 500 company, it has headquarters in Beijing, China and Morrisville, North Carolina and major research centres in Yokohama, Beijing, Shanghai, Wuhan, Shenzhen and Morrisville. Lenovo’s end-to-end business model for vertical integration leverages owned manufacturing capabilities for greater control over both product development and supply chain operations. This model is unique among major PC makers and is a significant source of competitive advantage.
1. Lenovo is the number one PC company in China, Japan, Russia and Germany
2. Lenovo is the number one PC company in the world for large business and public sectors
3. Lenovo have been the fastest growing major PC brand for the past 3 years