Greg Stamboulidis

In: Business and Management

Submitted By kristy3001
Words 347
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Lenovo Group Limited is today the fourth largest personal computer manufacturer in the world
Lenovo produces desktops, laptops, servers, handheld computers, imaging equipment, and mobile phone handsets. Lenovo also provides information technology integration and support services

Lenovo is a spinoff of the Legend Group, which was established in 1984 by a group of eleven Chinese computer scientists in 1984 in China
On 23 June 1988, Lenovo was incorporated in Hong Kong. New technology development company and Chinese technology transfer company co-founded Lenovo of Hong Kong. Lenovo Group used Legend as its English name. The "Lenovo" name was used for the first time.
In November 1989, Lenovo Group was formed and Lenovo became the company name.
In 1990, the first Lenovo computer was introduced. Lenovo began to manufacture and supply personal computers.
Lenovo financed its formation by listing on the Hong Kong stock market in 1994, raising nearly $30 million. Lenovo was traded in overseas financial markets for the first time.
In 2004, Lenovo Group changed its English name to Lenovo Group Limited and also became the first Chinese enterprise to join the Olympic Partner Programme of the International Olympic Committee (IOC) as its worldwide computer equipment.
On 8 December 2005, Lenovo and IBM signed the contract to buy IBM's PC business.

A restructuring followed Lenovo's IBM purchase, which created the world's third largest PC manufacturer after Dell and Hewlett-Packard. Lenovo relocated its headquarters from Beijing to Purchase, New York, near IBM's home, while adding IBM's ThinkCenter in Raleigh, North Carolina to several manufacturing sites in China. Plans to relocate the headquarters to Raleigh were announced in March 2006; the company also was laying off about 5 precents of its more than 21,000 employees.

In April 2006, the company committed to buy…...

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