Latest News:  
Beijing   Light to moderate rain/Light rain    13 / 8 ℃  City Forecast

English>>China Business

Lenovo, on top of the PC world (4)

By Zhou Xiaoyan (Beijing Review)

15:01, November 19, 2012

"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.

【1】 【2】 【3】 【4】 【5】 【6】

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


Related Reading

Leave your comment0 comments

  1. Name


Selections for you

  1. China's stealth fighter concept model

  2. PLA Macao Garrison finishes 13th rotation

  3. Unforgettable moments in Nov. (III)

  4. Flight test of unmanned aircrafts conducted

  5. First inter-blood-type liver transplant in China

  6. Harbin Autumn Automobile Exhibition

  7. Embroider best wishes on insoles in Shanxi

  8. China's rich people will reach to 280 million

Most Popular


  1. Commentary: Hot money needs cooling
  2. Smart solutions for better city, better life
  3. China remains an 'engine' in global economy
  4. M&A of listed companies gaining steam
  5. Is 'culture' inferior to 'commercialization'?
  6. Chinese liquor makers "sober up" over bans
  7. Strength of Chinese culture lies in understanding
  8. Securing China's e-commerce growth
  9. Hammered ore prices threaten Chinese iron miners
  10. CNN Beijing chief: China's challenges, opportunities

What’s happening in China

Landmark building should respect the public's feeling

  1. Herders, sheep flock move to winter pasture
  2. First inter-blood-type liver transplant in China
  3. HIV patient to sue hospital over cancer op refusal
  4. Test in intelligent vehicle for food detection
  5. Smart card, dumb refund rules