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Lenovo Group Limited
联想集团有限公司
Company typePublic
SEHK: 992
Template:OTCBB
IndustryComputer Systems
Computer Peripherals
Computer Software
Founded1984
HeadquartersResearch Triangle Park, North Carolina, United States
Beijing, China
Singapore[1]
Area served
Worldwide
Key people
Liu Chuanzhi (Chairman)
Yang Yuanqing (CEO)[2]
ProductsDesktops
Servers
Notebooks
Netbooks
Peripherals
Printers
Televisions
Scanners
Storage
RevenueIncrease $16.604 billion (2010)[3]
Increase $218 million (2010)[3]
Increase $129 million (2010)[4]
Total assetsIncrease $8.955 billion (2010)[3]
Total equityIncrease $1.605 billion (2010)[3]
Number of employees
22,205 (2010)
WebsiteLenovo.com
Lenovo
Traditional Chinese聯想集團有限公司
Simplified Chinese联想集团有限公司

Lenovo Group Limited (SEHK: 992, Template:OTCBB) (Chinese: 联想集团有限公司; pinyin: p=lián xiǎng jí tuán yǒu xiàn gōng sī) is a Chinese multinational computer technology corporation that develops, manufactures and markets desktops and notebook personal computers, workstations, servers, storage drives, IT management software, and related services. Incorporated as Legend in Hong Kong in 1988,[5] Lenovo's executive headquarters are in Research Triangle Park, North Carolina, United States. Lenovo's principal operations are currently located in Beijing, P. R. China, Morrisville in the United States, and Singapore, with research centers in those locations, as well as Shanghai, Shenzhen, Xiamen, and Chengdu in China, and Yamato in Kanagawa Prefecture, Japan.[6]

Lenovo acquired the former IBM PC Company Division, which marketed the ThinkPad line of notebook PCs, in 2005 for approximately $1.75 billion.

In August 2009, Lenovo was the fourth largest vendor of personal computers in the world.[7] For the year ending with third quarter 2010, its market share increased from 8.6 percent to 10.4 percent.[8] The company is the largest seller of PCs in China, with a 28.6% share of the China market, according to research firm IDC in July, 2009. It reported annual sales of $14.9 billion for the fiscal year ending 2008/2009 (ending March 31, 2009).

Lenovo markets its products directly to consumers, small to medium size businesses, and large enterprises, as well as through online sales, company-owned stores (in China only), chain retailers, and major technology distributors and vendors.

On September 4, 2009, Oceanwide Holdings Group, a private investment firm based in Beijing, bought 29% of Legend Holdings, the parent company of Lenovo, for 2.76 billion yuan ($404.1 million).[9] Legend Holdings is the asset management unit of the Chinese Academy of Sciences.

On November 27, 2009, Lenovo Group announced its intention to purchase Lenovo Mobile Communication Technology. Lenovo Mobile now ranks No.3 in China’s mobile handset market.[10]

On January 27, 2011, Lenovo formed a PC joint venture with Japanese PC maker NEC. As part of the deal, the companies said in a statement they will establish a new company called Lenovo NEC Holdings B.V., which will be registered in the Netherlands. NEC will receive US$175 million from Lenovo through the issuance of Lenovo's shares. Lenovo, through a unit, will own a 51% stake in the joint venture, while NEC will hold a 49% stake.[11]

Products

Lenovo makes a variety of products for world wide sale.[12] These products include:

An agreement allowed Lenovo to sell IBM-branded desktops and laptops until 2010.[13] Lenovo notebooks and business machines are available with Linux pre-installed.

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.[14]

IBM became the owner of 18.9% of Lenovo in 2005 as part of Lenovo's acquisition of the IBM personal computing division.[15] Since then IBM has steadily lowered its shareholding in Lenovo. In July 2008 the IBM shareholding went below the 5% reporting disclosure threshold.[16] In February 2009 the CEO Bill Amelio was replaced with Yang Yuanqing.[17] In November 2010, it was reported that private equity firms TPG Capital and General Atlantic are seeking to exit Lenovo with a HK$1.56 billion share placement.[18]

Finance & Revenue

In May 2011, Lenovo reported fourth-quarter earnings of $42 million on sales of $4.88 billion. Wall Street was expecting revenue of $5.08 billion, according to Thomson Reuters.[19]

Name

"Lenovo" is a portmanteau of "Le-" (from Legend) and "novo", Latin ablative for "new". The Chinese name (simplified Chinese: 联想; traditional Chinese: 聯想; pinyin: liánxiǎng) means "association" or "connected thinking" but can also imply creativity. The name was changed from Legend because it conflicted with other trademarks registered in the West.[20]

Development history

  • In 1985, the company launched the first Chinese card product with Lenovo function. Lenovo, the brand name was born from this.
  • On June 23, 1988, Lenovo of Hong Kong was open. New technology development company and Chinese technology transfer company co-founded Lenovo of Hong Kong. Lenovo Group used Legend as its English name. Also, that is the first time for Lenovo to be the company name.
  • In November 1989, Lenovo Group Company was started up and firstly used Lenovo as enterprise and group name.
  • In 1990, Lenovo computer was launched. Lenovo began to manufacture and supply Lenovo brand PC.
  • Lenovo financed its assault by listing on the Hong Kong stock market in 1994, raising nearly $30 million. Lenovo brand appeared in overseas financial markets for the first time.
  • In 1996, Lenovo was first beyond foreign brands. The market share of it was the first place in the homeland for 6 years.
  • In 1999, Lenovo PC sales volume was honored in the top of Asia-Pacific market with 8.5% market share.
  • On April 1, 2001, Lenovo reorganized asset and torn apart appear on the market.
  • In August 2002, Lenovo launched super computer capable of making quadrillion calculations per second successfully. This is the first high-performance computer which speed has exceeded quadrillion calculation per second in actual measurement.
  • On December 3–7, 2002, Legend World 2002 held completely. This is a great symbol for Lenovo that Lenovo products technology has made a substantial progress.
  • On December 8, 2005, Lenovo and IBM signed the protocol to buy IBM's PC business.
  • On August 10, 2005, Lenovo announced outstanding achievement of the first quarter in 2005. Net profit during this period achieved 3.57 billion HKD. This is the first time for Lenovo to calculate quarterly financial report after buying IBM'S global PC business.
  • In August 2010, the company announced Legend Holding Ltd. financed more than 10 million Yuan to the Divine Land Car Rental company, infusing with stock equity and financial claim.
  • On August 31, 2010, Lenovo Group and Suntech Power Ltd. signed IT management service agreement.
  • On January 3, 2011 at the 2011 International CES, Lenovo announced the Lenovo Enhanced Experience 2.0, allowing booting times 20 seconds faster than other computers. With launching of intel's 2nd generation processors in its z570 notebooks.[8]

Environmental record

Lenovo is listed in Greenpeace’s Guide to Greener Electronics released in October 2010, where it ranks 14th out of 18 leading electronics manufacturers. The company rises up from the 17th position reached in May 2010, but it is still penalized for backtracking on its commitment to eliminate PVC vinyl plastic and brominated flame retardants (BFRs) in all its products by the end of 2009. Lenovo has made significant progress on three of the energy criteria; it now supports the need for global emissions of greenhouse gases (GHGs) to peak by 2015, with a 30 percent reduction in emissions from industrialized countries by 2020 and a 50 percent reduction by 2050, relative to 1990; it has set its own targets for reducing GHG emissions, aiming to eliminate or offset its scope 1 emissions by 100 percent by April 2011 and achieve absolute reductions in scope 2 emissions, with progressive targets up to 20 percent by April 2020, relative to 2008/09; it also reports the percentage of its products that meet the latest Energy Star standards, with many of its products exceeding the standard. [21]

See also

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References

  • Ling, Zhijun (2005). The Lenovo affair: the growth of China's computer giant and its takeover of IBM-PC. trans. Martha Avery. Singapore: John Wiley & Sons [Asia]. ISBN 978-0-470-82193-0. Retrieved 2009-09-16.{{cite book}}: CS1 maint: ref duplicates default (link)
  1. ^ Lenovo - Our Locations
  2. ^ Mark Lee and Tim Culpan (February 6, 2009). "Lenovo Shares Rise Most in Month on Leadership Change (Update2)". Bloomberg. Retrieved February 7, 2009.
  3. ^ a b c d "Form 10-K". Lenovo Group Limited, United States Securities and Exchange Commission. 2008-03-31. Retrieved 2010-05-28. For the fiscal year ended: March 31, 2010
  4. ^ LENOVO REPORTS FOURTH QUARTER AND FULL-YEAR 2009/10 RESULTS
  5. ^ Company history, Lenovo.com (USA). Retrieved 2009-10-22.
  6. ^ Locations, Lenovo.com (US). Retrieved 2009-10-22.
  7. ^ "Gartner Says Worldwide PC Market Grew 13 Percent in 2007" (Press release). Gartner, Inc. 2008-01-16. Retrieved 2008-01-18.
  8. ^ a b Ranii, David (2011-10-03). "Lenovo is on faster track". News & Observer. Retrieved 2011-01-03.
  9. ^ Lee, Melanie (2009-09-04). "China Oceanwide buys Lenovo parent stake for $404 mln". Thomson-Reuters. Retrieved 2009-01\9-04. {{cite news}}: Check date values in: |accessdate= (help)
  10. ^ "Lenovo to Acquire Mobile Handset Business". Lenovo Group. 2009-11-27. Retrieved 2009-01\12-30. {{cite web}}: Check date values in: |accessdate= (help)
  11. ^ "UPDATE: NEC Forms PC Joint Venture With Lenovo, Posts Wider Loss". The Wall Street Journal. 2011-01-27.
  12. ^ Lenovo Products - United States Retrieved 2006-03-13
  13. ^ http://www.pc.ibm.com/ww/customerqa.html
  14. ^ "Investor fact sheet". Retrieved 2008-12-26. {{cite web}}: Cite has empty unknown parameter: |coauthors= (help)
  15. ^ http://www.ibm.com/investor/ircorner/article/lenovo-acquisition.wss
  16. ^ http://www.itnews.com.au/News/80965,ibm-offloads-77-million-of-lenovo-shares.aspx. {{cite news}}: Missing or empty |title= (help)
  17. ^ Kathrin Hille (February 6, 2009). "Lenovo chief replaced in reshuffle". The Financial Times. Retrieved February 8, 2009.
  18. ^ http://www.thestandard.com.hk/news_detail.asp?we_cat=2&art_id=104990&sid=30311800&con_type=1&d_str=20101116&fc=2
  19. ^ Larry Dignan, CNET. "Lenovo's fourth quarter a mixed bag." May 26, 2011. Retrieved May 26, 2011.
  20. ^ Todd Crowell (2008). "Ever heard of Lenovo, Haier, CNOOC? You will". Christian Science Monitor (30-JUN-2005).
  21. ^ "Guide to Greener Electronics". Greenpeace International. Retrieved 2011-01-24. {{cite web}}: Text "Greenpeace International" ignored (help)

External links

Wikimedia Commons has media related to Lenovo.

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