According to Yuan Yuanqing the Chief Executive Officer of Lenovo, “Selling PCs is like selling fresh fruit. The speed of innovation is very fast, so you must know how to keep up with the pace, control inventory to match supply with demand, and handle very fast turnover." He must know what he is talking about, because this month Lenovo overtook other computer manufacturers to become the number one selling brand of computers in the world. The Chinese company beat out American competitors in a close victory over Hewlett-Packard. But they are close trading partners with US technology giant IBM, for whom they mass produce all of their computers and laptops. In fact, they have a US Headquarters and manufacturing facility located in Morrisville, North Carolina that employs over 2,000 people. They are also the Official Laptop, Desktop, and Workstation Sponsor of the NFL. Lenovo has long since been the top-selling computer in China. But what makes Lenovo so successful the world over?
History of Excellence
Lenovo was founded on November 1, 1984 by 11 members of the Institute of Technology and the Chinese Academy of Sciences. That same day its incorporation was approved by the Chinese government. In 1988, they were able to hire their first round of employees, including a young Yuanqing. At the time the name of the company was actually Legend Holdings.
In 1994, Legend Holdings went public on the Hong Kong stock market to raise capital. They must have done something right. About a decade later they managed to acquire the computer manufacturing division of IBM, despite protests from a lot of people in the US. To distinguish themselves from from other organizations called ‘Legend’, they changed the name of the company to Lenovo. It was a portmanteau of ‘legend’ and the Latin word for ‘new’ – a new legend.
In an ironic turn of events, Lenovo recently announced that they had hired actor Ashton Kutcher, the man who plays Steve Jobs, as their official sponsor. Someone must have an interesting sense of humor, because the actor has signed a $10 million dollar endorsement deal with the company. Word on the street is that Kutcher and his old sponsor Nikon have not been getting along well recently. According to the New York Post, he is also negotiating a $100 million divorce settlement with Demi Moore, and dating his former That 70s Show co-star Mila Kunis. Read more about Kutchers endorsement deal for Lenovo.
The economical units manufactured by Lenovo can be compared with other models from HP, Dell, and Toshiba. They design a wide range of moderately priced laptops, ultrabooks, tablets, desktop computers, workstations, servers, storage, accessories, and software. They offer a wide range of services and warranties to keep your computer safe, protect your data, and improve productivity. If you are shopping for a new PC, be sure to follow Lenovo online to stay up-to-date with events such as their annual 40% off back to school blowout sale.