Lenovo Group Limited, formerly known as Legend Group Ltd and New Technology Developer Incorporated (SEHK: 0992) is the third largest personal computer manufacturer, and the largest in the Asia-Pacific region as of 2006. The company was founded in 1984 by a group of eleven engineers headed by Liu Chuanzhi in Beijing, but the listed holding company was incorporated in 1988 in Hong Kong. In 2005 Lenovo purchased IBM's PC Division. Its headquarters are located in Raleigh, North Carolina, USA, the home of IBM's former ThinkPad group.
"Lenovo" is a portmanteau of "Le-" (from Legend) and "novo", pseudo-Latin for "new."
Please try to keep recent events in historical perspective.
Purchase of IBM PC Division
At a time when Lenovo was relatively unknown outside People's Republic of China, the company made news headlines in December 2004 with the announcement of its intent to acquire the PC division of IBM. Lenovo hoped to expand into Western markets to become the third largest PC manufacturer worldwide. Prior to the acquisition, Lenovo already controlled twenty-five percent of the Asian market, was largely due to its ability to sell computers at value prices at 1000's of Lenovo branded stores in China. Lenovo paid $1.27 billion to IBM, started splitting into $655 million cash and $600 million Lenovo stock.
1981: IBM PCD introduces its first personal computer, the IBM PC.
1984: IBM PCD introduces its first portable computer, the IBM Portable PC, weighing 30 pounds. With an initial capital outlay of only RMB300,000 (US$30,000) Lenovo’s founding chairman Liu Chuanzhi, together with 10 like-minded colleagues, launches the New Technology Developer Inc. (the predecessor of the Legend Group) funded by the Chinese Academy of Sciences.
1986: IBM PCD announces its first laptop computer, the PC Convertible, weighing 12 pounds.
1987: IBM PCD announces the Personal System/2 personal computer. Legend successfully rolls out the Legend Chinese-character card.
1988: Legend’s Chinese-character card receives the highest National Science-Technology Progress Award in People's Republic of China. Legend Hong Kong is established.
1989: Beijing Legend Computer Group Co. is established.
1990s
1990: The very first Legend PC is launched in the market. Legend changes its role from that of an agent for imported computer products into that of a producer and seller of its own branded computer products. Legend PCs are ratified and accepted by the China Torch Program.
1992: IBM PCD introduces ThinkPad series, the industry’s first notebook with a 10.4 inch color Thin Film Transistor (TFT) display and a TrackPoint (red ball) pointing device. Legend pioneers the home PC concept and Legend 1 + 1 home PCs enter the Chinese marketplace.
1993: Legend enters the Pentium era, producing People's Republic of China’s first “586” PC. Legend establishes 1+1 retail network.
1994: IBM PCD introduces the industry’s first notebook with integrated CD-ROM, the ThinkPad 755CD. Legend is listed on the Hong Kong Stock Exchange. The Legend PC business division is formally established.
1995: IBM PCD introduces the “butterfly” keyboard. Lenovo moves from Boca Raton, Florida, to Raleigh, North Carolina. Legend introduces the first Legend-brand server.
1996: Legend becomes the market share leader in China for the first time. Legend introduces the first Legend brand laptop.
1997: IBM PCD introduces the industry’s first notebook equipped with a DVD-ROM, the ThinkPad 770. Legend signs an Intellectual Property agreement with Microsoft, the most valuable deal ever made in China at the time. Legend launches the first multi-function laser printer.
1998: IBM PCD introduces the ThinkLight, a small light that illuminates the keyboard for use in low-light work environments, such as aboard an airplane. The millionth Legend PC comes off the production line. Intel Chairman Andy Grove attends the ceremony, and takes the PC for Intel’s museum collection. Legend establishes the first Legend Shop.
1999: IBM PCD introduces the industry’s first sub-notebook, weighing under three pounds, with standard ports and a keyboard that is 95 percent the size of full-size keyboards. Lenovo announces its exit from the retail business. IBM PCD introduces the industry’s first PC with an embedded security chip. Legend becomes the top PC vendor in the Asia-Pacific region, and heads the Chinese national Top 100 Electronic Enterprises ranking. Legend launches pioneering Internet PC, with its “one-touch-to-the-net” feature, which enables millions of Chinese PC users to easily access the Internet.
2000s
2000: IBM PCD ships its 10 -millionth ThinkPad notebook PC. Legend becomes a constituent stock of the Hang Seng Index - HK. Legend ranked in top 10 of world’s best-managed PC vendors.
2001: An IBM notebook with an embedded security chip becomes the industry’s first notebook with a security chip meeting designed to the Trusted Computing Platform Alliance specification, an industry body setting data security standards. Legend successfully spins off Digital China Co. Ltd., which is separately listed on the Hong Kong Stock Exchange. Legend appoints Yuanqing Yang as President and CEO. Legend first introduces “digital home” concept and launches accessories-enabling PC.
2002: Lenovo announces desktop PC outsourcing pact with Sanmina-SCI. Legend debuts the DeepComp 1800 supercomputer. It is People's Republic of China’s first computer with 1,000 GFLOP (floating point operations per second) and PRC's fastest computer for civilian use, ranked 43rd in the Top 500 list of the world’s fastest computers. The mobile handset joint venture announced, marking Legend’s formal entry into the mobile handset business.
2003: Lenovo introduces a notebook with battery life up to 11 hours. Lenovo introduces its ThinkCentre desktop PC line. Lenovo ships its 20-millionth ThinkPad notebook PC.
2004: IBM PCD introduces the ThinkCentre desktop PC. Lenovo ships its 100-millionth PC. Lenovo becomes an Olympic worldwide partner. Lenovo launches the “Yuanmeng” PC series designed for home users in small villages. Lenovo and IBM announce an agreement by which Lenovo will acquire IBM’s Personal Computing Division, its global PC (desktop and notebook computer) business.
2005: Lenovo completes the acquisition of IBM’s Personal Computing Division, making the company the world's third largest computer manufacturer. Lenovo announces it closed a US$350 million strategic investment by three leading private equity firms: Texas Pacific Group, General Atlantic LLC and Newbridge Capital LLC. Lenovo establishes a new Innovation Center in Research Triangle Park, N.C. Lenovo introduces the ThinkPad X41 Tablet and Z60. William Amelio is appointed as CEO and President of Lenovo.
2006: Lenovo introduces dual-core ThinkPad notebook PCs. Lenovo supplies the 2006 Olympic Winter Games in Torino, Italy with 5,000 desktop PCs, 350 servers and 1,000 notebook computers. The first Lenovo-branded products outside of China debut worldwide.
2007: Lenovo supplies NFL with 300 desktop PC's and monitors for Super BowlXLI in Miami, FL, to be donated afterwards.
Products
Lenovo makes a variety of products for world wide sale = http://www.lenovo.com/products/us/en/ | title = Lenovo Products - United States: | format = .html | accessdate = March 13 | accessyear = 2006}}</ref> These products include:
Lenovo has been actively sponsoring world sporting events in recent years. After becoming a partner sponsor of the 2006 Torino Olympics and 2008 Beijing Olympics[1] in 2004, Lenovo is now set to sponsor the Formula One (F1) team WilliamsF1 and the National Basketball Association (NBA) [2] in 2007.
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