Lenovo initiates new wave of partnership
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BEIJING, Dec. 31 -- The biggest Chinese computer maker Lenovo Group acquired the personal computer unit of the world&#39;s largest information technology giant IBM on December 8 at a cost of US$1.75 billion.
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As was widely expected, Armonk, NY-based IBM and Lenovo also said they will enter a strategic alliance and IBM will hold a minority stake, at 18.9%, in the Beijing-based company.
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Lenovo Group Ltd. agreed to pay $1.25 billion for International Business Machines Corp.&#39;s personal computer business, lifting China&#39;s largest PC maker to third in world rankings and giving it a globally recognized brand.
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By Liu Baijia  Chinese computer giant Lenovo will use its Chinese transaction model in other markets after successful pilot schemes in Germany and India.  So said Deepak Advani, senior vice-president and chief marketing officer of Lenovo.
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Not doing a runner, though Tech giant IBM has inked a licensing agreement with Lenovo that will see the Chinese computer vendor making and selling a range of x86 servers.â¦
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&quot;On behalf of the Board of the Lenovo Directors I am honored to announced to the world that Lenovo Group has bought IBM&#39;s PC division for US$1.25 billion.
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BEIJING - Lenovo Group has agreed to pay US$1.25 billion ($1.75 billion) for IBM&#39;s personal computer business, lifting China&#39;s largest PC maker to third in global rankings and giving it a globally recognised brand.
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Lenovo, China&#39;s largest personal computer maker, will pay US$1.75 billion (HK$13.65 billion) in cash, stock and assumed debt for IBM&#39;s struggling PC operations in a move that will make it the world&#39;s third-biggest PC manufacturer and fulfil its long-held
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(InfoWorld) - Lenovo Group has signed a five-year deal with IBMÂ to provide services and support to its customers. The deal, outlined in a filing with the Hong Kong stock exchange Tuesday, could be worth up to $245 million for IBM over the term of the contract. Lenovo plans to expand the services it offers customers with the addition of "fee-based technical support, installation, deployment and other PC-related services," the filing said. Lenovo did not reveal when the new services will be introduced, but they are likely to come soon: the company expects to make payments to IBM under this deal during its current financial year, which ends next month. In an e-mail statement, Lenovo spokeswoman Angela Lee declined to offer details of the new services, but said "many" of them are intended for consumers and small-business users -- markets that Lenovo is keen to crack outside China, and particularly in the U.S. After considering several service providers, Lenovo chose to outsource these functions to IBM, which is one of the company's largest investors, because the company has an established worldwide services organization and an existing business relationship with Lenovo. Lenovo expects the deal to generate payments to IBM of $15 million during its current 2006-2007 fiscal year, which ends March 31.That amount is expected to rise to $35 million during the company's next fiscal year, 2007-2008, and $45 million during 2008-2009. These payments may increase further to $50 million annually during the 2009-2010, 2010-2011, and 2011-2012 fiscal years, Lenovo said in the filing.
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China&#39;s personal computer giant Lenovo Group Limited Wednesday signed an agreement with IBM to take over the latter&#39;s personal computer business for 1.25 billionUS dollars.
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Lenovo Group Ltd. agreed to pay $1.25 billion for International Business Machines Corp.&#39;s personal computer business, making the Chinese company the world&#39;s third- largest PC maker and giving it a globally recognized brand.
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Lenovo has launched a widescreen version of its ThinkPad line of notebook PCs, bidding to compete with Dell for business users.
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China's largest manufacturer of personal computers Lenovo Group said it has bought IBM's PC business for 1.25 billion dollars, making it the world's number three in the intensely competitive field.
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SHANGHAI : China&#39;s largest manufacturer of personal computers Lenovo Group said it is in negotiations with a major information technology company, believed to be US-based IBM.
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IBM has gained a crucial foothold in China by selling its PC business to Lenovo, the countryâs biggest computer maker, for $1.75 billion (Â£900 million) in cash, shares and debt.
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Sensing an opportunity in the fast-growing consumer notebook market, Lenovo on Thursday is expected to launch a new line of consumer laptops with the IdeaPad moniker.Targeted at gamers and home users, IdeaPad adds a low-price line of laptops to complement the company&#39;s existing ThinkPad notebook line, targeted primarily at business users. The company will first introduce three IdeaPad notebooks in different sizes, including an ultraportable laptop that the company will ship in the end of March.The IdeaPad U110 ultraportable notebook comes with an 11-inch screen and weighs only 2.3 pounds (1.04 kilograms), according to Lenovo.Based on Intel processors, the ultraportable will ship with either hard disk drives or flash-based solid state drives, said Craig Merrigan, Lenovo&#39;s vice president of global consumer marketing. To add ruggedness, the laptop has a shock sensor that detects falls and protects the hard drive data from any potential damage. The feature, called the Active Protection system, is already available on the company&#39;s ThinkPad laptops.Lenovo didn&#39;t comment on pricing for the ultraportable laptop.The company also announced the IdeaPad Y710 laptop, targeted at gamers, and IdeaPad Y510 laptop, targeted as a desktop replacement for home users. With colorful front bases in textured finishes, the laptops are equipped with expressive designs oriented to personalities and lifestyles, Merrigan said.The IdeaPad Y710 comes with a set of controls, including macro buttons and a control to enhance PC performance to optimize gaming on laptops. A slider control allows gamers to overclock the CPU to maximize laptop performance, Merrigan said. Starting at $1,199, the laptop includes a 17-inch screen and is equipped with an Intel Core 2 Duo processor, an ATI graphics card, wireless networking, and an optional Blu-ray Disc drive. It can support hard drives up to 500GB.The IdeaPad Y510 notebook, with a 15.4-inch screen, is targeted at home users. Starting at $799, it comes with Intel Core 2 Duo processors with integrated graphics, wireless networking an integrated camera and a DVD/DVR optical drive. Including a battery, the laptop weighs 6.4 pounds (2.9 kilograms). It can support hard drives up to 250GB.The Y710 and Y510 have four speakers and a subwoofer apiece, and an inductive touch surface between the keyboard and screen that lights up multimedia controls based on context, Merrigan said. If movies are playing, it will light up movie controls, and if audio is playing, users can control equalizers using the touch surface.Equipped with 1.3-megapixel cameras, the laptops have facial recognition technology that makes a face a user&#39;s password, Merrigan said. Once a user sits in front of a computer, the computer recognizes the face and logs in a user. While consumers are not concerned about that high level of security, it may be useful to keep track of what kids are doing, Merrigan said.Both laptops will ship by the end of January and include Microsoft&#39;s Vista operating system. The laptops will initially launch in the U.S., France, Russia, South Africa, India, Australia, Hong Kong, Indonesia, Malaysia, Vietnam, Thailand, China, Philippines, and Singapore, according to Lenovo. It will be available at online retailers and in stores.The announcements come ahead of the Consumer Electronics Show, to be held in Las Vegas between January 7 and 10, where the laptops will be on display.Lenovo is trying to establish its own identity after&#160;acquiring IBM&#39;s PC business&#160;in 2004. Late last year it&#160;established its first &quot;Think&quot; line of workstations, and with the IdeaPad line, it is trying to get a bigger share of the consumer notebook market. The company is&#160;in fierce competition with Acer&#160;in the global PC market, according to surveys from Gartner and IDC.The company is also planning an ultramobile device based on&#160;Intel&#39;s Menlow platform, though Merrigan wouldn&#39;t comment on it. The ultramobile device will be on display at Intel&#39;s booth in CES.
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Lenovo Group has moved worldwide marketing services such as creative development to a new hub it has established in Bangalore, India with marketing communications firm Ogilvy & Mather Worldwide.