The Complete Story of Lenovo, See These Resources For The Whole Story
From ThinkPads to IBM PCs, this widely known brand has changed hands from IBM to Lenovo, and the brand lives on.
Lenovo has a large market share in the computer world and still stands strong. It’s one of the world’s largest tech companies, with a market cap of more than $11.2 billion. Liu Chuanzhi founded the company in Beijing on November 1, 1984, with an initial investment of 200,000 yuan, the equivalent of 70,000 dollars in today’s economy.
From its humble beginnings, the company has grown to take the third spot in terms of size, behind Dell and HP. In March of 2019, the company took the first spot by unit sales.
The company’s US headquarters is located in Morrisville, North Carolina, and its main headquarters is in Quarry Bay, Hong Kong, becoming China’s first global company with operations in more than 60 countries and sales in more than 160 countries.
Becoming any country’s first multinational company is a historical achievement, and in this case, Lenovo will be that company that goes down in history for China for the first multinational. This sets a road map for other companies to follow.
One of Lenovo’s first successes was developing a circuit board that allowed IBM-compatible PCs to process Chinese characters. In the early days of PCs, only Latin characters were used for displays and inputs. The addition of other languages opened up the doors for many countries to advance in computer usages for the average citizen.
Lenovo’s global expansion spread in 2005 when it acquired IBM’s personal computer business. Nine years later, Lenovo acquired the Intel-based server business. IBM was looking to get out of this part of the business because it was taking a lot of its resources.
For more on the success story of this humble startup, have look at the collection of resources in this post that takes a look at the success story of Lenovo.
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