Formally known as a legend, Lenovo is one of the leading global vendors and manufacturers of personal computers, laptops, tablets, smartphones, servers, supercomputers, workstations, and other electronic devices. It is continuously developing and conquering the other brands in its competition. The main reason for its success in the global market is the introduction of Lenovo’s innovative solutions and a good pricing policy.
History of Lenovo
A Chinese multinational company, known as Lenovo Group Limited, was founded in November 1984 by a group of Chinese scientists and engineers. Its main purpose was to supply computer equipment to the Chinese market as, at that time, the Chinese government was attentive to reducing the technology gap between the west and china. And to glorify the technology in their state, CAS financed the activities of technology developers.
What Are the Drivers of Lenovo’s Global Success?
In 2020 the 55th edition of the TOP500 list reported that it was ranked first for the fifth time in a row as the world’s leading supercomputer manufacturer.
Statistical reports analysis shows that in 2022 it is ranked top and the first among the vendors for systems share of the Top500 supercomputers globally, accounting for 32.2% of the global market. About 36% of the world’s top supercomputer systems use it’s solution.
Lenovo’s Global Market Strategy:
After its founding in 1984, it proved to be a market leader as the greatest vendor and manufacturer of PCs and other technology devices in china. In early 2000 the company decided to move into the international market. It changed from legend (a common word) to Lenovo group limited.
Lenovo’s growth in recent years has been followed by a “protect and attack” strategy. It is a combined phenomenon of defense and offense. Defensively, Lenovo tried to build on its success in China and offensively wants to grow globally in an international market by expanding its assets and sales.
Lenovo’s Partnerships and Acquisitions:
Partnerships and acquisitions are the factors contributing to expanding the company in the global market. In 2004, cooperated with IBM and bought its stake in the Pc and laptop business of IBM for 1.75$ billion. In 2010 Lenovo received the rights to use the trademark used by IBM, including IBM ThinkPad. Lenovo, in 2014, completed its acquisition of Motorola from Google Inc. In 2017, It announced its 51% stake in Fujitsu’s PC division. The objective of this venture was the manufacturing and developing CCD – client computing devices for the global PC market.
Lenovo’s Localization to The International Market:
The goal has been to become a global market. It has built and introduced a new product and innovative solution distributed worldwide; for this purpose, the company has to spend a lot of money. It sponsored the Olympics to get its brand recognized, spending more than $50 million. To overcome the market, it has used good pricing policies and expanded its sales with lower prices than its competitors for only $350 per desktop.
Lenovo’s Financing Innovations:
It is now spending heavily on machine learning and artificial intelligence to compete in the global market in all aspects. The capital and incubator group funds the major game changers of the future, such as Virtual reality, the internet of things, and Big data in the sectors of health care, manufacturers, and transportation.
Lenovo’s Top Global Products
At this point, top products include the Moto G lineup, ThinkPad lineup (Thinkpad X1 Nano Gen, Thinkpad X1 Carbon, X1 Fold), Foldable smartphones and 5G, LEGION 7 series, and many more.
Currently, it has conquered the global market with the implication of its distinctive market strategies and innovative ideas. The company’s vision is to be a market leader, and the company has proved to be the one.