10 Years After IBM PC Deal Lenovo Keeps on Evolving

By Jeffrey Burt  |  Posted 2015-05-01

Prior to 2005, Lenovo was China's top PC vendor, but was little known outside the country's borders. It had annual revenue of about $3 billion and was ranked ninth in the global PC industry, with a 2.3 percent market share. That all changed in April of that year, when IBM announced it was selling its massive PC business to Lenovo for $1.25 billion. The deal instantly propelled Lenovo into the worldwide PC scene—eventually it would overtake Hewlett-Packard as the world's top PC vendor—but it also gave the company the financial strength and momentum to rapidly expand its reach into everything from servers (including buying IBM's x86 server business) to mobile devices (such as buying Motorola Mobility from Google), to acquire even more companies, and to partner with industry giants like EMC and NEC. "The acquisition of IBM's PC business transformed Lenovo overnight into a truly global company, changing not only Lenovo but our industry," Lenovo Chairman and CEO Yang Yuanqing said in a statement. "Even more, this acquisition built the foundation for our expansion to new products like smartphones, tablets, servers and now our ecosystem, growth engines fueled by the success of our first big deal." Lenovo officials are celebrating the 10 years since the IBM PC deal. This eWEEK slide show looks at some of the highlights from those 10 years.


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