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English>>China Business

Lenovo, on top of the PC world

By Zhou Xiaoyan (Beijing Review)

14:59, November 19, 2012

Lenovo has overtaken HP to become the world's top computer maker, but the company has even greater ambitions

China's personal computer manufacturer Lenovo Group Ltd. overtook U.S.-based Hewlett-Packard Corp., or HP, in the third quarter to become the largest seller of personal computers (PCs) in the world measured by shipments, said the IT research company Gartner Inc. in October.

According to the internationally recognized research firm, Lenovo accounted for 15.7 percent of all PC shipments in the third quarter, while HP held 15.5 percent. Another U.S.-based PC maker, Dell Corp., controlled about 10.5 percent of the market during the period.

Yang Yuanqing, Lenovo Chairman and CEO, said Lenovo would not become complacent.

"Although competition has been fierce in the PC market, I firmly believe there is still room for continuous profit growth," Yang said at a press conference on Lenovo's quarterly financial results held in Beijing on November 8. "Becoming a leading enterprise in the PC market is just a milestone in Lenovo's development, as it is also looking to become a leader in other markets."

Lenovo's success is attributed to its long-term focus on emerging markets and successful overseas M&As. Facing a low profit margin in the PC business and fierce competition from tablet PCs and smart phones, the company is embarking on plans to diversify its businesses.

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