|The Lenovo Group Limited Company |
|Contact Information |
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|Address: ||20th Fl., Devon House, Taikoo Place, 979 King's Rd., Quarry Bay Hong Kong |
Lenovo Group Limited, formerly known as Legend Group Limited, is the largest personal computer manufacturer in the People's Republic of China, and as of 2004 is the eighth largest in the world. Along with PCs, Lenovo sells servers, handheld computers, imaging equipment, and mobile phone handsets. Lenovo also provides information technology integration and support services, and its QDI unit offers contract manufacturing. Hoping to reach the many Chinese not yet online, Lenovo also offers Internet access through its FM365.com (http://www.fm365.com/) portal.
In December 2004, Lenovo announced its intent to acquire the PC division of IBM, the U.S.-based multinational corporation which once had a virtual monopoly on personal computers. Lenovo hopes to expand into Western markets to become the third largest PC maker worldwide. Prior to the acquisition, Lenovo already controlled 27% of the Asian computer market, largely due to its ability to sell computers cheaply and China's high tariffs on foreign brands. Lenovo paid 1.25 billion United States dollars to IBM, of which 650 million were paid in cash and 600 million were in Lenovo stock.
However, in January 2005, it was announced that the Committee on Foreign Investment in the United States might put a block on the deal.
Legend Group Holdings, which is controlled by the Chinese government, owns a majority stake in Lenovo.
Its 2003 revenue was US$2.59 billion, which was less than U.S. PC vendors like IBM (92.84B), Hewlett-Packard (78.37B), Dell (45.38B), and Apple (6.2B).
See  (http://www.lenovogrp.com/cgi-bin/main.cgi?section=investor&sub_section=faq)