Expert Chaslau Koniukh
  • Companies
  • Global investment
  • Investors
  • Terminology
  • Economy
  • Stock Market
  • World exchanges
  • Tech and Marketing
Lenovo Group
Companies and corporations

Lenovo Group: the history of the famous electronics brand

20.05.2022
2 min read

How Lenovo Group and its founder came to be

Lenovo Group Limited is an electronics manufacturer that occupies a leading position in the global market. It owns a share of 20% of all global sales of computers and laptops.
Lenovo is a Chinese company engaged in the development, design and manufacture of PCs, laptops, tablets, smart phones, server equipment, a variety of electronic devices and accessories. The founder is Liu Chuanzhi, who was born in 1944 in Jiangsu province. After graduating from school he wanted to join the military service, but because of his father’s political preferences he was rejected. As a result, Liu went to university in 1962, and after graduating in 1966, he began working on scientific research at four universities.
In 1984, the Chinese Academy of Sciences cut funding for Chuanzhi’s research. He then teamed up with 10 employees and founded Legend, where engineers worked on new technologies. At the same time, the entrepreneurs were taking serious risks by opening a business in the PRC at the time. The country had a tight planned economy, which made it difficult to develop small firms. The initial investment in Legend was about $24,000, which the partners borrowed from their boss at the Academy of Sciences. None of the engineers had any experience in marketing, which made it difficult to grow the business. At first, the company was engaged in importing televisions, but then it began to provide quality check services for appliances.Chinese company Lenovo GroupIn 1988 Liu and 5 partners went to Hong Kong, where Lenovo was founded. The first investment was the development of a printed circuit board that enabled IBM computers to process hieroglyphics. The very name of the company was taken from the mother company Legend and the Latin word novo, “new.”
In 1990, the company began assembling and selling computers under its own Legend brand. In 1997, the two firms merged into one business – Lenovo Group, which allowed it to take the lead in the Chinese market in terms of PC sales the same year. The best-selling Lenovo computer at the time was the Tianxi, which was equipped with a button that instantly connected to the Internet and opened a browser. In 1999, the local market share grew to 27% and the turnover was $2.4 billion.
Liu Chuanzhi served as CEO until 2001, when he decided to retire. During the same period, the company was reformed into a holding company that was engaged in various areas, including electronics manufacturing, new electronics technology development, venture capital investment and construction.

Tags: Companies and corporations
0
Previous Post How DTC brands changed the approach to television advertising Next Post Who is Ma Huateng: a professional history

You Might Also Like

Stone Island
Companies and corporations
Stone Island: the brand that won the hearts of millions of teenagers
22.06.2024
Philips
Companies and corporations
Philips: stages of development of the Dutch corporation
22.10.2021
WalMart
Companies and corporations
How the world’s largest retail chain WalMart appeared: the story of its founding
16.08.2022
Cargill company-2
Companies and corporations
How the agricultural company Cargill came into being: the history of its founding
01.03.2022
Seagate
Companies and corporations
A history of the development of hard drive manufacturer Seagate
16.05.2023
FIAT: history of automobile manufacturer
Companies and corporations
FIAT: the history of the Italian car manufacturer
01.09.2022

Popular Posts

  • Li Ka Shing: How can success be achieved without money and education?
  • Skolkovo analysts: the Russian energy market is suffering losses
  • Ingeborg Mootz: a woman who became a stock player at the age of 75
  • Analysts: Egypt’s economy to continue falling in 2023

Editor's Picks

Chaslau Koniukh
Analytics

American bankers from JPMorgan and Goldman Sachs advise to invest in gold: review by Chaslau Koniukh.

Press Secretary
17.08.2020
Expert Chaslau Koniukh
Analytics

Chaslau Koniukh on the analysts’ opinion on the key stake size change soon

Press Secretary
18.06.2020
expert Chaslau Koniukh
Analytics

Chaslau Koniukh: Internet trade market in Russia may reach 2.78 trillion rubles.

Press Secretary
30.05.2020
Will the U.S. oil shale industry be able to quickly recover from the crisis: A Review by Chaslau Koniukh
Analytics

Will the U.S. oil shale industry be able to quickly recover from the crisis: A Review by Chaslau Koniukh

Press Secretary
16.05.2020

Popular Posts

  • Li Ka Shing: How can success be achieved without money and education?
  • Skolkovo analysts: the Russian energy market is suffering losses
  • Ingeborg Mootz: a woman who became a stock player at the age of 75
  • Analysts: Egypt’s economy to continue falling in 2023
  • Businessman Chuck Feeney: the man who gave the world Duty Free
Expert Chaslau Koniukh
  • Facebook
  • Twitter
  • Instagram

© 2024 CHASLAU KONIUKH. ALL RIGHTS RESERVED. Expert in marketing and project management, international investments, financial analyst.

Menu

  • Biography
  • Companies and corporations
  • Global investment
  • Investors and Entrepreneurs
  • Economy
  • Market terminology
  • Stock Market
  • World exchanges
  • Tech and Marketing
  • Analytics