China 2015: BRAND PROFILE | 21. Lenovo
COMPANY Lenovo Group, Ltd.
BRAND VALUE US$ 3.3 Billion
YEAR-ON-YEAR CHANGE 26%
YEAR FORMED 1984
Lenovo experienced growth across key product lines – PCs, tablets and smartphones. The acquisition of Motorola Mobility positions Lenovo to become a contender in smartphones the way it became
a leader in PCs when it purchased IBM’s PC division. At the same time, Lenovo announced plans to grow its enterprise business with the purchase of IBM’s x86 server business.
These developments build Lenovo as a global brand. At the end of the first quarter of 2014, China comprised only a bit more than one-third of Lenovo’s total sales. Lenovo expects both the Motorola
and IBM acquisitions to add talent. In addition:
- Lenovo restructured into four business divisions: PC, Mobile, Enterprise, and Ecosystem/Cloud.
- The brand planned to build around 2,000 stores for selling smart TVs in China.
- Net income rose 30 percent to $394 million on revenue of $18.6 million, an 11 percent rise, in the first half of 2014. For the full year 2013, net income advanced 34 percent to $635 million on revenue of $33.9 billion, a 15 percent gain. Lenovo is traded on the Hong Kong Stock Exchange.