Lenovo's revenues have risen 1,100 per cent since the vendor acquired IBM's PC arm in 2005.
To mark the ten-year anniversary, Lenovo has looked back on the deal and how its business has changed during that time.
Lenovo says the acquisition was a major milestone in its evolution from "a China-only PC maker to a global PC challenger to one of the world’s most innovative technology companies".
Prior to its acquisition of IBM’s PC business in 2005, Lenovo ranked ninth in the worldwide PC industry with 2.3 percent market share and annual revenue of $3 billion. Fast forward to 2015 and Lenovo is number one in worldwide PCs with market share of 20 per cent and revenue growing roughly thirteen-fold over the past ten years to $39 billion.
Lenovo is celebrating with nine of its most defining moments over the past decade:
- 100 million ThinkPad laptops sold (2015)
- Completed the acquisition of Motorola Mobility and IBM X86 businesses and launched multimode YOGA Tablet 2 Pro with built-in projector (2014)
- Became #1 PC-maker worldwide; started selling smartphones outside of China; and introduced interpersonal computing with Horizon table PC (2013)
- Launched YOGA multimode PC (2012)
- Entered into JV with EMC and acquired Stoneware and CCE (2012)
- Created JV with NEC and Compal and acquired Medion (2011)
- Sponsored Beijing Olympics delivering 20,000 pieces of infrastructure and hardware; entered global consumer laptop and desktop markets; built ThinkPad X300, which BusinessWeek called “the best laptop ever” (2008)
- Launched first Lenovo-branded PCs worldwide (2006)
- Acquired IBM’s PC business, including ThinkPad (2005)
“The acquisition of IBM’s PC business transformed Lenovo overnight into a truly global company, changing not only Lenovo but our industry,” said Yang Yuanqing, Chairman and CEO of Lenovo.
“Since then, we have overcome many challenges – and many doubters – to become the world’s leading PC company and one of the world’s most innovative personal technology companies. 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 marks this milestone in advance of Lenovo Tech World on May 28th in Beijing, where it will outline its vision of future devices, including smartphones, wearables and smart connected devices and demonstrate R&D concept projects.