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Encyclopedia > Lenovo
The Lenovo Group Limited Company
Image:Lenovo.gif
Image:Lenovo logo.jpg
Contact Information
Address: 20th Fl., Devon House, Taikoo Place, 979 King's Rd., Quarry Bay Hong Kong
Financial Highlights
Revenue (2003): US$2,593.90 M
Employees (2003): 9,705
Officers
Chairman: Liu Chuanzhi


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.

Contents

Ownership structure

Legend Group Holdings, which is controlled by the Chinese government, owns a majority stake in Lenovo.


Financial information

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).


Stock

Listings

Indicies

See [1] (http://www.lenovogrp.com/cgi-bin/main.cgi?section=investor&sub_section=faq)

  • Hang Seng Index (August 2000)
  • Hang Seng London Reference Index (September 2000)
  • Morgan Stanley Capital International ("MSCI") China Free Index (June 2000)

See also

External links


  Results from FactBites:
 
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Lenovo Group - Wikipedia, the free encyclopedia (1474 words)
Lenovo is the subject of a book, "The Lenovo Affair: The Growth of China's Computer Giant and its Takeover of IBM-PC", by journalist Ling Zhijun, published 23 June 2006 by John Wiley and Sons.
Lenovo was relatively unknown outside People's Republic of China, but made news headlines in December 2004 with the announcement of its intent to acquire the PC division of IBM.
William Amelio is appointed as CEO and President of Lenovo.
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