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At CES 2011, Lenovo announced the launch of four IdeaCentre desktops: the A320, B520, B320, and C205.<ref name="Lenovo IdeaCentre Desktops at CES">{{cite web|title=Lenovo Introduces New Line Of IdeaCentre Desktops / All-In-One PCs At CES|url=http://hothardware.com/News/Lenovo-Introduces-New-Line-Of-IdeaCentre-Desktops--AllInOne-PCs-At-CES/|accessdate=22 September 2011|author=Ray Willington|date=4|month=January|year=2011}}</ref> All desktops were designed as All-in-ones, combining processor and monitor into a single unit.<ref name="Lenovo IdeaCentre Desktops at CES"/> The desktops were described by HotHardware as being ‘uniquely designed’, with users needing to ‘gaze on each one to see which design would look best in your place’.<ref name="Lenovo IdeaCentre Desktops at CES"/>
At CES 2011, Lenovo announced the launch of four IdeaCentre desktops: the A320, B520, B320, and C205.<ref name="Lenovo IdeaCentre Desktops at CES">{{cite web|title=Lenovo Introduces New Line Of IdeaCentre Desktops / All-In-One PCs At CES|url=http://hothardware.com/News/Lenovo-Introduces-New-Line-Of-IdeaCentre-Desktops--AllInOne-PCs-At-CES/|accessdate=22 September 2011|author=Ray Willington|date=4|month=January|year=2011}}</ref> All desktops were designed as All-in-ones, combining processor and monitor into a single unit.<ref name="Lenovo IdeaCentre Desktops at CES"/> The desktops were described by HotHardware as being ‘uniquely designed’, with users needing to ‘gaze on each one to see which design would look best in your place’.<ref name="Lenovo IdeaCentre Desktops at CES"/>

===LePhone===
{{main | LePhone}}

Lenovo launched the [[LePhone]] in order to compete against other smart phones. The LePhone is offered at a relatively low price point, and is customized for the Chinese market. The LePhone has benefited from strong support from Chinese mobile phone companies and content providers such as [[Baidu]], [[Alibaba]], and [[Tencent]]. The LePhone supports the [[GSM]] standard, China's indigenous [[TD-SCDMA]] [[3G]] standard used by [[China Mobile]], the [[WCDMA]] 3G standard used by [[China Unicom]], and [[China Telecom]]'s [[CDMA 2000]] network.<ref>中华人民共和国国务院国有资产监督管理委员会"国务院国资委2009年回顾", p. 48.</ref><ref>http://androidos.in/2010/05/why-lenovo-lephone-can-be-a-hit-in-china/</ref><ref>http://www.iphoneinchina.com/2009/07/china-unicom-confirmed-for-china/</ref> As of December 2011 the LePhone exclusively uses the [[ndroid (operating system)|Android]] operating system from [[Google]] but has plans to release a version of the LePhone that makes use of [[Windows]] from [[Microsoft]] in 2012.


===LeTV===
===LeTV===

Revision as of 23:20, 5 March 2012

Lenovo Group Limited
Company typePublic
SEHK: 992
Template:OTCBB
IndustryComputer hardware
Computer system
Founded1984
FounderLiu Chuanzhi
HeadquartersMorrisville, NC, U.S.
Beijing, China
Singapore
Area served
Worldwide
Key people
Yang Yuanqing
(Chairman and CEO)
ProductsDesktops, servers, notebooks, tablet computers, netbooks, peripherals, printers, televisions, scanners, storage
RevenueIncrease US$ 21.594 billion (2011)[1]
Increase US$ 382 million (2011)[1]
Increase US$ 273 million (2011)[2]
Total assetsIncrease US$ 10.705 billion (2011)[1]
Total equityIncrease US$ 1.834 billion (2011)[1]
Number of employees
26,341 (2011)
Websitewww.lenovo.com
Lenovo
Traditional Chinese聯想集團
Simplified Chinese联想集团
Transcriptions
Standard Mandarin
Hanyu Pinyinlián xiǎng jí tuán

Lenovo Group Limited (SEHK: 992, Template:OTCBB) (Chinese: 联想集团; pinyin: Liánxiǎng jítuán) is a Chinese multinational personal technology company that develops, manufactures and markets desktop and notebook computers, workstations, servers, storage drives, IT management software, and other related products and services. Lenovo was incorporated in Hong Kong in 1988 under its previous name, Legend.[3] Lenovo's principal operations are currently located in Morrisville, North Carolina, Beijing, China and Singapore.

Lenovo is the world's second largest PC maker and markets the ThinkPad line of notebook PCs and ThinkCentre line of desktops.[4] These brands became part of Lenovo's offerings after its 2005 acquisition of IBM's personal computer business. Lenovo also sells the IdeaPad line of notebook computers. Lenovo markets its products directly to consumers, small to medium size businesses, and large enterprises, as well as through online sales, company-owned stores, chain retailers, and major technology distributors and vendors.

Products

IdeaPad

Main article: IdeaPad
A Lenovo Ideapad

The IdeaPad line of consumer-oriented laptop computers was released in January 2008. The Thinkpad is entirely the result of Lenovo's own research and development. Unlike the ThinkPad line of notebooks its design and brand were not inherited from HP. The Thinkpad design marked a deviation from the business-oriented ThinkPad laptops, towards a more consumer-focused look and feel.[5] Among these changes were the inclusion of a glossy screen and the omission of the traditional ThinkPad TrackPoint.[6] Notebook Review said the keyboard had a ‘"distinctive ThinkPad feel" and "the touchpad and touchpad buttons were smooth and responsive."[7]

ThinkCentre

Main article: ThinkCentre

The ThinkCentre line of desktops was introduced in 2003 by IBM and this product line has been sold by Lenovo since 2005.[8] Following Lenovo's purchase of IBM PCD, Lenovo has continued to develop the ThinkCentre line of desktop products.

IdeaCentre

Main article: IdeaCentre

The first IdeaCentre desktop, the IdeaCentre K210, was announced by Lenovo on June 30, 2008.[9] While IdeaCentre was designed to be purely desktop models, influences of the IdeaPad line were observed.[9] One such feature was Veriface facial recognition technology.[9]

At CES 2011, Lenovo announced the launch of four IdeaCentre desktops: the A320, B520, B320, and C205.[10] All desktops were designed as All-in-ones, combining processor and monitor into a single unit.[10] The desktops were described by HotHardware as being ‘uniquely designed’, with users needing to ‘gaze on each one to see which design would look best in your place’.[10]

LeTV

Main article: Lenovo LeTV

In November 2011 Lenovo said it would soon unveil a smart television product called LeTV, expected for release in the first quarter of 2012. "The PC, communications and TV industries are currently undergoing a 'smart' transformation. In the future, users will have many smart devices and will desire an integrated experience of hardware, software and cloud services." Liu Jun, president of Lenovo's mobile-Internet and digital-home-business division.[11]

Cloud

Main article: Lenovo Cloud

In November 2011 Lenovo said it will offer a new cloud computing service that will allow users to share content between multiple devices in addition to managing their personal information and social networking.[11]

Other products

Lenovo U8

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

Financials and market share

Lenovo is a global Fortune 500 company with a special focus on personal computers with annual sales of over $21 billion. Lenovo is the dominant supplier of computers in mainland China and the second largest computer maker by volume in the world. After years of expansion and numerous acquisitions Lenovo became the world's second largest supplier of personal computers in the world during the third quarter of 2011.

Thanks to rapid sales growth in all markets, Lenovo commanded around 13.5% of the worldwide computer market as of October 2011. The company's expansion was boosted in part by the joint venture with NEC in Japan and aggressive marketing to both the professional and consumer. Yang Yuanqing said that Lenovo would continue its expansion by focusing on technological convergence in the areas of smart phones, tablets, personal computers, and "smart TV." "We must deliver a great user experience across all platforms to achieve our goal and become the leading personal technology company in the world," he stated.

In the second quarter of 2011, Lenovo was the third largest vendor of personal computers in the world.[13] For the year ending with third quarter 2010, its market share increased from 8.6 percent to 10.4 percent.[14] 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).

During the first quarter of 2011 Lenovo controlled 31.7% of the Chinese personal computer market when measured by units sold. Lenovo reported a 98.3 percent rise in profit to $108.8 million during the first quarter of 2011, up from $54.86 million during the same quarter of the previous year. Lenovo shipped 10.28 million personal computers in the first quarter of 2011.

Lenovo reported a 54-percent rise in profit for the third quarter of 2011, beating analyst predictions, in spite of slowing growth in sales and a shortage of hard drives.[15]

Ownership

In the 1980s, with market reforms in progress, the Chinese government commissioned Liu Chuanzhi to distribute foreign-made computers. Soon after Liu founded Lenovo, (whose English name was originally Legend, in Chinese 联想 Lianxiang), in 1984 with a group of ten other engineers in Beijing with 200,000 yuan. Their first significant transaction, an attempt to import televisions, failed. The group rebuilt itself within a year of hard work conducting quality checks on computers for new buyers. Lenovo soon invested money in developing a circuit board that would allow IBM PCs to process Chinese characters. This product was Lenovo's first major success. In 1990 Lenovo started to assemble PCs under its original brand name, Legend.

As of October 1, 2011, 58% of Lenovo stock was held by the general public, 34% by Legend Holdings Limited, and 8% by other entities. The Chinese Academy of Sciences owns 36% of Legend Holdings.[16]

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.[17]

IBM acquired a 18.9% share of Lenovo in 2005 as part of Lenovo's purchase of IBM's personal computing division.[18] Since then IBM has steadily reduced its holdings of Lenovo stock. In July 2008 the IBM's interest in Lenovo fell below the 5% threshold that mandates public disclosure.[19]

In November 2010, it was reported that private equity firms TPG Capital and General Atlantic were seeking to exit Lenovo with a HK$1.56 billion share placement.[20]

Responding to claims that Lenovo is a state owned enterprise CEO Yang Yuanqing said: "Our company is a 100% market oriented company. Some people have said we are a state owned enterprise. It's 100% not true. In 1984 the Chinese Academy of Sciences only invested $25,000 in our company. The purpose of the Chinese Academy of Sciences to invest in this company was that they wanted to commercialize their research results. The Chinese Academy of Sciences is a pure research entity in China, owned by the government. From this point, you could say we're different from state-owned enterprises. Secondly, after this investment, this company is run totally by the founders and management team. The government has never been involved in our daily operation, in important decisions, strategic direction, nomination of the CEO and top executives and financial management. Everything is done by our management team."[21]

Yang dramatically increased his ownership stake in by acquiring 797 million shares in 2011. As of June 2011, Yang owns an 8 percent stake in Lenovo. He previously owned only 70 million shares. In a statement, Yang said, "While the transaction is a personal financial matter, I want to be very clear that my decision to make this investment is based on my strong belief in the company's very bright future. Our culture is built on commitment and ownership - we do what we say, and we own what we do. My decision to increase my holdings represents my steadfast belief in these principles."[22]

Mergers and acquisitions

IBM

Main article: IBM
IBM logo

Lenovo made its acquisition of IBM amid a backlash in Congress against Chinese companies trying to purchase American businesses. Chinese oil company CNOOC abandoned its attempt to buy Unocal and appliance maker Haier Group ended its efforts to acquire Maytag. Lenovo has moved its global headquarters to Purchase, New York and kept most of its former IBM development staff in North Carolina.

Lenovo Mobile

Lenovo sold its mobile phone division in 2008 in order to focus on its personal computer business and then paid $200 million to buy it back in November 2009. Lenovo re-acquired its mobile division in order to focus on mobile internet devices such as smart phones and tablet computers[23] Lenovo Mobile now ranks third in terms of unit share in China’s mobile handset market.[24]

Lenovo invested 100 million yuan in a fund dedicated to providing seed funding for mobile application development for its LeGarden online app store. As of 2010, LeGarden had more than 1,000 programs available for download to users of the LePhone. At the same time, LeGarden counted 2,774 individual developers and 542 developer companies as members.[25]

NEC

Main article: NEC

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. Lenovo has a five-year option to expand its stake in the joint venture.[26]

This joint venture with NEC is intended to boost Lenovo's worldwide sales by expanding its presence in Japan, a key market for personal computers. NEC is spinning off its personal computer business to the joint venture. As of 2010, NEC controlled about 20% of Japan's market for personal computers while Lenovo had a 5% share. Lenovo and NEC have also agreed to explore cooperating in other area such as servers and tablet computers.[27]

Medion

Main article: Medion

Lenovo announced in June 2011 that it planned to take control of Medion, a German electronics-maker. Lenovo said the acquisition would double its share of the German computer market, making it the third-largest company by sales after Acer and Hewlett-Packard. The deal, expected to close in the third quarter of the same year, would be the first time a Chinese company has bought a well-known German company. This acquisition will give Lenovo 14 percent of the German computer market. Gerd Brachmann, chairman of Medion, agreed to sell two-thirds of his 60 percent stake in the company. He will be paid in cash for 80 percent of the shares he and receive 20 percent in Lenovo stock. That would give him about 1 percent of Lenovo.[28]

Leadership

Liu Chuanzhi

Main article: Liu Chuanzhi

Liu Chuanzhi is the founder of Lenovo and remains the paramount leader of the firm. Liu founded Lenovo (whose English name was originally Legend, in Chinese 联想 Lianxiang), in 1984 with a group of ten other engineers in Beijing with 200,000 yuan. The listed holding company was incorporated in 1988 in Hong Kong.

Yang Yuanqing

Main article: Yang Yuanqing
Yang Yuanqing - Annual Meeting of the New Champions Tianjin 2008 (cropped)

Yang Yuanqing is the current chief executive officer of Lenovo. Yang was a chairman of Lenovo's board from 2004 to 2008. Before the acquisition of IBM's PC division by Lenovo in 2004, he was the President and CEO of the company. One of his major achievements was making Lenovo the best-selling PC brand in China since 1997. In 2001, Business Week named him as one of the rising stars in Asia. In February 2009 the CEO Bill Amelio was replaced by Yang.[29]

Marketing

Olympic sponsorship

Main article: Olympic Games

To that end, Lenovo signed on as the official computer sponsor of the 2006 Winter Olympics in Turin, Italy, and the 2008 Summer Olympics in Beijing.

Official 2008 Summer Olympics Torch in Vilnius

Brand awareness

When asked about Lenovo's brand Yang Yuanqing said, "Outside of China we still have a long way to go, and that's why we've paid a lot of attention to brand building, particularly in emerging markets. It's easier to do it in those countries compared with mature markets. The Beijing Olympics were very good for brand awareness in countries like the US and Argentina, but not good enough. If I was the chief executive then I would have spent more money to build the brand outside China to leverage off the Olympics."

Space contest

As of December 2011, Lenovo is conducting a contest in conjunction with YouTube, NASA, the European Space Agency, and JAXA that will allow students between the ages of 14 and 18 the chance to devise experiments to be performed by astronauts on the International Space Station. Winners will receive a trip of their choice to either Japan or Russia in addition to having their experiments performed in space.

Early history

Founding and early years

On November 1, 1984, Lenovo was established with 200,000 RMB by eleven people, named the "Chinese Academy of the Sciences Institute of Computing Technology," new technology development company. In 1985, the company launched the first Chinese-made motherboard with Lenovo technology. The current brand name, Lenovo, was born from this. On 23 June 1988, Lenovo was incoporated in Hong Kong. New technology development company and Chinese technology transfer company co-founded Lenovo of Hong Kong. Lenovo Group used Legend as its English name. The "Lenovo" name was used for the first time.

When Legend launched its own branded personal computer in 1990, it already had a strong distribution network in place. With that distribution network and prices 30% below those of foreign companies such as Hewlett Packard, Legend grabbed the lead in China's computer market late 1996 and has held it ever since. Legend has been able to accomplish this by underpricing foreign competitors while providing quality and support unavailable from local competitors.

Initial public offering

Lenovo financed its formation by listing on the Hong Kong stock market in 1994, raising nearly $30 million. Lenovo was traded in overseas financial markets for the first time.On 1 April 2001, Lenovo reorganized its assets and relisted on the Hong Kong stock market.

Name change

In 2004, Lenovo Group changed its English name to Lenovo Group Limited. "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.[30]

Supercomputer

Main article: Supercomputer

In August 2002, Lenovo launched a supercomputer capable of making a quadrillion calculations per second. This was the first high-performance computer which speed has exceeded quadrillion calculations per second in actual tests.

Headquarters and facilities

Lenovo Beijing R&D

Lenovo's principal facilities are in Beijing, Morrisville, North Carolina and Singapore, with research centers in those locations, as well as Shanghai, Shenzhen, Xiamen, and Chengdu in China, and Yamato in Kanagawa Prefecture, Japan.[31]

Manufacturing

Lenovo operates factories in Chengdu and Hefei in China, Japan, and as of December 2011 has plans to start production in Argentina. Lenovo focuses on vertical integration in order to avoid excessive reliance on original equipment manufacturers and keep costs down.[32]

See also

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References

  1. ^ 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
  2. ^ LENOVO REPORTS FOURTH QUARTER AND FULL-YEAR 2009/10 RESULTS
  3. ^ Company history, Lenovo.com (USA). Retrieved 2009-10-22.
  4. ^ Fletcher, Owen. "Lenovo passes Dell to become world's No 2 PC maker". MarketWatch.
  5. ^ "Lenovo IdeaPad Hands-On Roundup". For starters, the design of the IdeaPads marks a significant change for HP. Unlike the "all business" classic Packard line that Lenovo inherited from HP, the Thinkpads have a thick, refined look.
  6. ^ "Lenovo IdeaPad Hands-On Roundup". The glossy screens feature a flush-mount bezel which makes the transition from LCD to keyboard look incredibly smooth. Speaking of keyboards, the keyboards on both the Y510 and the Y710 have a distinctive "ThinkPad feel" when typing ... despite the loss of the iconic red trackpoint in the middle of the keyboard.
  7. ^ "Lenovo IdeaPad Hands-On Roundup". Speaking of keyboards, the keyboards on both the Y510 and the Y710 have a distinctive "ThinkPad feel" when typing ... despite the loss of the iconic red trackpoint in the middle of the keyboard. The touchpad and touchpad buttons were also smooth and responsive.
  8. ^ "Lenovo Company History". Retrieved 22 September 2011.
  9. ^ a b c "Lenovo announces its first desktop, IdeaCentre K210". 30. Retrieved 22 September 2011. {{cite web}}: Check date values in: |date= and |year= / |date= mismatch (help); Unknown parameter |month= ignored (help)
  10. ^ a b c Ray Willington (4). "Lenovo Introduces New Line Of IdeaCentre Desktops / All-In-One PCs At CES". Retrieved 22 September 2011. {{cite web}}: Check date values in: |date= and |year= / |date= mismatch (help); Unknown parameter |month= ignored (help)
  11. ^ a b LORETTA CHAO And OWEN FLETCHER (30 November 2011). "Lenovo Sets Web-Linked TV". The Wall Street Journal.
  12. ^ Lenovo Products - United States Retrieved 2006-03-13
  13. ^ "Gartner Says Worldwide PC Shipments Increased 2.3 Percent in Second Quarter of 2011" (Press release). Gartner, Inc. 2011-07-13. Retrieved 2011-09-03.
  14. ^ Ranii, David (2011-10-03). "Lenovo is on faster track". News & Observer. Retrieved 2011-01-03.
  15. ^ "Hong Kong shares seen lower, China inflation data eyed". Reuters. 8 February 2012. Retrieved 9 February 2012.
  16. ^ "Investor fact sheet". Retrieved 2008-12-26. {{cite web}}: Cite has empty unknown parameter: |coauthors= (help)
  17. ^ 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)
  18. ^ http://www.ibm.com/investor/ircorner/article/lenovo-acquisition.wss
  19. ^ http://www.itnews.com.au/News/80965,ibm-offloads-77-million-of-lenovo-shares.aspx. {{cite news}}: Missing or empty |title= (help)
  20. ^ http://www.thestandard.com.hk/news_detail.asp?we_cat=2&art_id=104990&sid=30311800&con_type=1&d_str=20101116&fc=2
  21. ^ "Q&A; Chinese Computer Giant Showcases Capitalist Credentials; Chairman of Lenovo, which acquired IBM's PC unit, says the firm has few government ties". Los Angeles Times. 4 May 2006. {{cite news}}: |access-date= requires |url= (help); line feed character in |title= at position 6 (help)
  22. ^ David Ranii; (17 June 2011). "Lenovo CEO makes huge stock purchase". The News & Observer (Raleigh, North Carolina).{{cite news}}: CS1 maint: extra punctuation (link) CS1 maint: multiple names: authors list (link)
  23. ^ "LENOVO TO TAKE ON THE BIG BOYS WITH LEPHONE". China Daily. 11 May 2010.
  24. ^ "Lenovo to Acquire Mobile Handset Business". Lenovo Group. 2009-11-27. Retrieved 2009-01\12-30. {{cite web}}: Check date values in: |accessdate= (help)
  25. ^ "Lenovo bets on app projects to boost sales". South China Morning Post. 24 November 2010.
  26. ^ "UPDATE: NEC Forms PC Joint Venture With Lenovo, Posts Wider Loss". The Wall Street Journal. 2011-01-27.
  27. ^ David Ranii (2 February 2011). "With NEC venture, Lenovo eyes Japan". Cary News (North Carolina).
  28. ^ CHRIS V. NICHOLSON (2 June 2011). "Lenovo to Buy German PC Maker". The New York Times.>
  29. ^ Kathrin Hille (February 6, 2009). "Lenovo chief replaced in reshuffle". The Financial Times. Retrieved February 8, 2009.
  30. ^ Todd Crowell (2008). "Ever heard of Lenovo, Haier, CNOOC? You will". Christian Science Monitor (30–JUN–2005).
  31. ^ Locations, Lenovo.com (US). Retrieved 2009-10-22.
  32. ^ "Lenovo to Build Production Base in Argentina". SinoCast Daily Business Beat. 19 December 2011.
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