Lenovo, on top of the PC world (4)

"We benefited in three ways from the IBM acquisition," said Liu Chuanzhi, former board chairman of Lenovo, in an interview with China Central Television, the country's national TV station. "We got the ThinkPad brand, IBM's more advanced PC manufacturing technology and the company's international resources, such as its global sales channels and operation teams. These three elements have shored up our sales revenue in the past several years."

In August 2012, Lenovo signed an agreement with the U.S.-based data-management company EMC Corp. to develop and sell server and storage technologies.

In September 2012, Lenovo delved into software development after buying the U.S.-based cloud-computing company Stoneware Inc. for an undisclosed amount. Stoneware has millions of users in the educational field and the U.S. public sector.

The same month, Lenovo agreed to buy the Brazilian consumer electronics maker CCE in a cash-and-shares-deal worth about 300 million Brazilian reals ($147 million). The purchase of CCE, Brazil's largest domestic maker of electronics, will allow Lenovo to more than double its share of the PC market in the world's sixth largest economy—from 3.7 percent to 8 percent—and diversify its product portfolio from single PCs to other electronic products such as tablet PCs and smart phones.

The deal will also add mobile phones and televisions to its product line in Brazil, where it recently announced plans to build a factory at a cost of $30 million.

Lenovo will continue to make acquisitions to boost its growth in global markets, said Lenovo's Chairman Yang.

We recommend:
A Decade of Fastest Development	Eastern Boom Lightens Western Gloom	Chinese firms 'potential Trojan horses'? slows
AVIC unveils new aircraft engines	China's MA700 to take flight in 2016	13th Int'l Automobile Industry Exhibition
China Int'l Industry Fair opens in Shanghai	Caofeidian coal wharf put into use	Galaxy Soho building in Beijing