Lenovo is becoming increasingly prominent each year. Back in 2012, the company ranked first in global personal computer shipments. In 2014, Lenovo acquired Motorola Mobility from Google. While the brand remains relatively unknown in the United States, it enjoys significant popularity among Ukrainian users, primarily due to the attractive combination of price and quality of its products.
If you’re a fan of Lenovo, you might be interested in learning some intriguing facts about this company.
The Company Was Founded Over 30 Years Ago
Lenovo is older than many well-known tech brands like HTC and Huawei. The company was established on November 1, 1984, by Chinese scientist Liu Chuanzhi and a group of engineers. The founding cost was about $30,000, funded by the Chinese Academy of Sciences. Interestingly, for the first two years, the company was called New Technology Developer Incorporated.
The Company Was Known as Legend for Many Years
Lenovo received its current name only in 2003. From 1986 to 2003, it proudly bore the name Legend.
The First PC Was Released in 1990
In the late 1980s, IBM enjoyed incredible success in the personal computer market. Lenovo’s management decided to capitalize on this rapidly growing market. In 1990, the company introduced its first self-developed PC. The success of this machine in China and other Asian markets was phenomenal. The government even awarded Lenovo for advancing Chinese business and science.
In 1988, Lenovo Quadrupled Its Staff Due to a Newspaper Ad
By modern standards, Lenovo grew quite slowly. Initially, a small staff was an advantage that minimized expenses. But four years after its launch, the need for new people became urgent. The company placed a hiring ad on the front page of the youth newspaper China Youth News.
The response was immediate. Over 500 applicants responded. A written exam was conducted for 280 of them. 120 candidates who passed the exam went through a series of oral interviews. Finally, 58 lucky individuals were selected to join the team. The average age of all new hires was 26, and they all held at least a bachelor’s degree. Thanks to this single ad, the company quadrupled its staff.
Interestingly, one of the 58 new hires was Yang Yuanqing, the current CEO of Lenovo.
In 2003, the Company Spent $30 Million on Rebranding
In 2003, the management felt that Legend was too generic a name for a large tech company. The name was changed, but the “legend” didn’t disappear entirely. The current name, Lenovo, combines Legend and the Latin word “novo” (meaning “new”). Thus, it means “New Legend.”
In 1997, Lenovo Made a Lucrative Deal with Microsoft
Until the late 1990s, Lenovo’s success was limited to China. Global recognition came in 1997, thanks to a partnership with Microsoft. This deal became one of the most profitable in the company’s history and laid the groundwork for Lenovo’s future success.
In 2005, Lenovo Acquired IBM’s PC Division
In 2005, Lenovo purchased IBM’s personal computer division for $1.75 billion. This acquisition was worth every penny. As a result, Lenovo became the third-largest PC manufacturer in the world. By 2012, it had reached the top position.
In 2014, Lenovo Acquired Motorola Mobility from Google
As mentioned earlier, in 2014, Lenovo acquired Motorola Mobility from Google for $2.91 billion. At that time, Lenovo already had its own smartphones, but this deal significantly strengthened its position in the market.
Lenovo’s Logo Was Updated in 2015
In 2015, Lenovo updated its logo, making it lighter and more modern. The new logo, launched under the slogan “Innovation Never Stands Still,” became much more geometrically precise and clear. According to the company’s marketing director, the update reflects Lenovo’s versatility and adaptability.
Every Fifth Computer Sold in the World Is a Lenovo
Currently, the company’s share of the global PC market is about 20%. This means that every fifth computer sold worldwide is a Lenovo. Despite the global decline in PC sales, the computer business generates about 65% of Lenovo’s annual revenue.