Lenovo Success Story

Lenovo, a Fortune 500 company, has its headquarters in China. It is ranked as No.1 in the personal computer market. The computer models which it has are ThinkPad Tablet 2, Think Centre, Lenovo ThinkPad. It has over 57000 employees. It has operations in around 60 countries. The research centers are in Beijing, Shanghai, Chengdu, Xiamen, Wuhan, Nanjing, Shenzhen.

Mission Statement:

• The mission statement of Lenovo is to become one of the world’s great personal technology companies. They aspire to achieve by leading major key areas which are personal computers, respected for quality and product innovation, and lead in the personal computers.

Vision Statement:

• It’s to create personal devices that keep people more inspired to own, a culture that aspire in joining an enduring and a trusted business for being respected across the world.

Corporate Social Responsibility:

• Lenovo has taken the responsibility of giving back to the society. The Lenovo foundation has taken up a crucial role in tackling the rising cases of COVID-19. It has started donating the technology to hospitals. Till now, they have donated $6.7 million, including all the other donations.

Lenovo’s Story:

• It was founded in 1984
• In May 1988, it advertised its first recruitment process
• It became a publicly traded company after the 1994 Hong Kong listing which raised nearly US$30 million
• For funding its continued growth Lenovo issued a secondary offering of 50 million shares in the year 2000
• It raised around US$212 million in this process
• It acquired IBM computer personal business in the year 2005
• IBM acquired 18.9% shareholding in the company
• Lenovo sold its tablet and smartphone division in 2008 for focusing on personal computers
• It again purchased it back in 2009 by paying US$200,000,000
• In January 2011, Lenovo formed a joint venture with the Japanese electronics firm NEC for producing personal computers
• It has a 51% stake in the joint venture
• In 2011, it announced the plan to acquire the control of Medion
• It acquired Medion for $ 900 million
• The deal was expected to double the market share more than 14% of the PC market share in Germany
• Lenovo entered the smartphone market in 2012
• It overtook Apple to become the No.2 provider of smartphones in the Chinese market
• In May 2012, Lenovo announced to invest US$793 million for constructing an R&D facility in Wuhan China
• In the year 2014, Lenovo acquired the Motorola mobility from Google
• It is listed in the Hong Kong stock exchange and is often referred as Red chips
• In May 2015 Lenovo revealed its new logo at the Lenovo Tech World in Beijing
• In June 2015, Lenovo announced its plan to sell US$650 million in the five year bonds
• The same year Lenovo became the world’s number one maker of personal computer, number 3 in making smartphones and tablets
• In the year 2014, Lenovo acquired the Motorola mobility from Google
• It is listed in the Hong Kong stock exchange and is often referred as Red chips
• In March 2017, Lenovo announced that it was forming partnership with Fort Lauderdale, a storage virtualization company
• In September 2018, Lenovo and NetApp announced the strategic partnership for starting two lines of the storage system

Lenovo’s Latest Projects On Sustainability:

• In February 2017, Lenovo announced that they made a breakthrough in the manufacturing process using low temperature soldering
• It will help to reduce the carbon emission by 35%
• Lenovo has joined hands with Compal electronics for forming the LCFC, the facility that helps to provide the high-tech services across the world.
• The LCFC is located in Heifei China, and uses raw material preparation and other related manufacturing methods for achieving the climate change policies
• Lenovo has already installed the photovoltaic project that generates around 3,900,000kWh of power on an annual basis
• It will reduce the coal usage and will help to save around 1560 tons of coals, and reduce the 3900 tons of carbon emission

Where Lenovo Stands Today?

• In the year 2019, Lenovo achieved a record revenue of US$51 billion, which was an increase of 12.5% every year
• On 3rd January 2020, Lenovo announced ThinkCentre M90a All-in-one
• It provides exceptional user experience in terms of usability, security, and productivity
• The ultraportable business laptops are the next to come in 2020 that has amazing display options
• It includes 4K HDR display with the Dolby vision