Lenovo Group, Ltd. is a multinational Chinese technology company, manufacturer of electronic products, computers, tablets and smartphones. Lenovo is an acronym for “Le” (pseudo-apocope for “legend”) and “novo” (pseudolatin for “new”), i.e. “New Legend”.
The company produces smartphones, PCs, servers, laptops, PDAs, tablets, netbooks, peripherals, printers, televisions, computer scanners, memories, headsets and hands-free mobile phones. It also provides integration information technology and support services, and its QDI unit offers manufacturing contracts. The company also offers Internet access through its FM365.com portal.
Lenovo’s main center is located in Beijing, China. It is also headquartered in Morrisville, North Carolina, USA, the home of IBM’s former ThinkPad group. Its shares are listed on the Hong Kong Stock Exchange.
Currently, 39.6 percent of Lenovo is owned by public partners, 42.4 percent by Legend Holdings, Limited, 7.9 percent by IBM and 10.1 percent by Texas Pacific Group, General Atlantic and Newbridge Capital LLC. Because the Chinese Academy of Sciences, a Chinese government agency, owns 65% of Legend Holdings, the Chinese government effectively owns 27.5% of Lenovo and is therefore the majority partner.
In 2005, following the acquisition of IBM’s computer division, Lenovo became the world’s largest leading international computer manufacturer in sales, consolidating again in 2013 when it surpassed HP in that distinction.
In November 2017, Lenovo purchases Fujitsu’s computer business for $157 million to secure supplies of computer components and lower costs.