Lenovo is one of the world's leading personal technology companies, producing innovative PCs and mobile internet devices. A global Fortune 500 company, Lenovo is the world's largest PC vendor and third largest smartphone company.
While the Lenovo brand came into existence only in 2004, the company has a much longer history. In 1984, Legend Holdings was formed with 200,000 RMB (US$25,000) in a guard house in China. The company was incorporated in Hong Kong in 1988 and would grow to be the largest PC company in China. Legend Holdings changed its name to Lenovo in 2004 and, in 2005, acquired the former Personal Computer Division of IBM, the company that invented the PC industry in 1981.
Today, Lenovo is a US $39 billion personal technology company with more than 54,000 employees (including joint ventures) in more than 60 countries serving customers in more than 160 countries. Lenovo is incorporated and headquartered in Hong Kong, with operational centers around the world, the largest ones being in Beijing and Morrisville.
Lenovo has grown faster than the market for more than four years because our exceptionally engineered products are meant for those who do. Our customers use innovation to bring progress to the world, and we design and build our products with this in mind, taking inspiration from the drive and imagination of the people who make things happen. Our technology helps those who do, do better.
Whether a PC, smartphone, tablet, smart TV, server, workstation or storage, Lenovo makes the products that customers need, whether smart connected or infrastructure devices. Lenovo is creating real differentiation from the competition thanks to its vertically integrated end-to-end business model. This model is unique among major technology companies and is a significant source of competitive advantage, helping us to bring more innovation to market, more efficiently, and aggressively attack the PC+ opportunity.
And as Lenovo expands globally, we are establishing even deeper roots in each major market, investing not only in sales and distribution, but also in local domestic manufacturing, R&D and other high-value functions. This global reach with local excellence is enabling us to build a new kind of company - a company - and positions us to more deeply implement our protect and attack strategy and build the foundation for long-term success.
And we want to do it the right way — the Lenovo Way — with our own perspective, our own global point of view and our own commitment to building technology for people who view technology as a tool to accomplish great things.
Innovation: A Core Value
Lenovo owns the greatest track record for innovation in the PC industry, consistently winning awards and receiving rave reviews. Lenovo remains committed to innovation across our entire device portfolio and will continue to leverage our history of technological breakthroughs into new product categories that drive future growth. Innovation is how Lenovo achieves competitive differentiation and drives new market opportunities, such as mobile Internet, digital home and cloud computing.
Lenovo operates 46 world-class labs, including research centers in Yokohama, Japan; Beijing, Shanghai, Wuhan and Shenzhen, China; and Morrisville, North Carolina, U.S.
The company is rich in talent, employing more than 5,000 engineers, researchers and scientists. Lenovo's R&D teams have introduced many industry firsts supported by a track record of innovation — including more than 6,500 globally recognised patents and more than 100 major design awards.
Acquisitions, collaboration with industry associations, and investments in research and development even in down cycles enable us to stay ahead of market trends and deliver a comprehensive portfolio of products.