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Catching up on college rivalries is the least of the challenges facing Lenovo's managers. Once little known outside China, Lenovo catapulted to No. 3 in the world PC market (after Dell and Hewlett-Packard) with its $1.75 billion IBM purchase. The acquisition, the most high-profile overseas grab by a Chinese firm, horrified many Americans, who saw a rising China set to gobble up flagship industries in the U.S. After all, IBM virtually invented the PC 25 years...
...reasons why Big Blue disgorged that trademark business--not least of which being that it was a lousy one. With its market share in retreat, the unit had lost nearly $1 billion in 3 1/2 years. Much of IBM's sales were in a slow-moving segment of the PC market--large shipments to major companies--and IBM hadn't fully tapped the more robust small-business and consumer markets. As a result, Lenovo's PC shipments have grown more slowly than the industry average for four of the past five quarters. That lopsided business, says William Amelio, Lenovo...
Amelio, 48, has a plan to plant Lenovo firmly on two feet. The former head of Dell's Asian operations, Amelio took the helm last December, and is launching an ambitious gambit to seize international market share by expanding into every nook of the PC industry. Lenovo is introducing new products, building a complex global-distribution network and splurging on a brand-building campaign. The strategy could turn Lenovo into a far fiercer rival for Dell and HP than stately IBM was, and threatens to intensify the cutthroat competition that is a hallmark of the famously bloodthirsty PC business...
...Beijing in 1984 by 11 free-thinking researchers with $25,000 from a science academy. It markets PCs for every possible customer, from the top-of-the-line Pentium speedster to $300 bare-bones desktops. The growth potential for Lenovo in its home market appears limitless. IDC forecasts that PC sales in China will jump 57% from 2006 to 2010, to 36 million units. The U.S. market will reach 68 million units...
Amelio is also employing a tactic used by other Asian upstarts, like Korean carmaker Hyundai Motor--value for money. Lenovo is packing its products with goodies and charging less than other PC brands, especially in a new series of computers called Lenovo 3000. Launched in February, the 3000s are an amalgam of Lenovo and IBM design and technology. The desktops are based on a Chinese product that features a one-button fix-it process to restore virus-damaged systems. They also feature ThinkPad-quality keyboards--all at a very reasonable $349. In comparison with other major brands, Lenovo notebooks ranked...