106-426: ESCON (Enterprise Systems Connection) is a data connection created by IBM , and is commonly used to connect their mainframe computers to peripheral devices such as disk storage , tape drives and IBM 3270 display controllers. ESCON is an optical fiber , half-duplex , serial interface. It originally operated at a rate of 10 MB/s, which was later increased to 17 MB/s. The current maximum distance
212-575: A neuromorphic CMOS integrated circuit and announced a $ 3 billion investment over the following five years to design a neural chip that mimics the human brain, with 10 billion neurons and 100 trillion synapses, but that uses just 1 kilowatt of power. In 2016, the company launched all-flash arrays designed for small and midsized companies, which includes software for data compression, provisioning, and snapshots across various systems. In January 2019, IBM introduced its first commercial quantum computer: IBM Q System One . In March 2020, it
318-484: A 5% share. Lenovo and NEC also agreed to explore cooperating in other areas such as servers and tablet computers. Roderick Lappin, chairman of the Lenovo–NEC joint venture, told the press that the two companies will expand their co-operation to include the development of tablet computers. In June 2011, Lenovo announced that it planned to acquire control of Medion , a German electronics manufacturing company. Lenovo said
424-621: A Hollerith department called Hollerith Abteilung, which had IBM machines, including calculating and sorting machines. IBM as a military contractor produced 6% of the M1 Carbine rifles used in World War II, about 346,500 of them, between August 1943 and May. IBM built the Automatic Sequence Controlled Calculator , an electromechanical computer, during World War II. It offered its first commercial stored-program computer,
530-569: A change in typography or the look of the logo. We asked 'If we really are a net-driven, customer-centric company, what should the logo look like?' We came up with the idea of a digital logo first [...] designed to be used on the internet and adaptable to context." In early June 2015, Lenovo announced plans to sell up to US$ 650 million in five-year bonds denominated in Chinese yuan. The bonds were sold in Hong Kong with coupon ranging from 4.95% to 5.05%. This
636-477: A closer relationship with Intel, the maker of most server processors, through its acquisition of IBM's x86-based server business. On 1 October 2014, Lenovo closed its acquisition of IBM's server division, with the final price put at $ 2.1 billion. Lenovo said this acquisition came in at a price lower than the previously announced $ 2.3 billion partially because of a change in the value of IBM inventories. The deal has been already approved by Europe and China. Per Forbes,
742-534: A company doing quality checks on computers. It also tried and failed to market a digital watch. In May 1988, Lenovo placed its first recruitment advertisement on the front page of the China Youth News . Such ads were quite rare in China at the time. Out of the 500 respondents, 280 were selected to take a written employment exam. 120 of these candidates were interviewed in person. Although interviewers initially only had
848-578: A consequence, IBM quickly began losing its market dominance to emerging competitors in the PC market. In 1985, IBM collaborated with Microsoft to develop a new operating system , which was released as OS/2 . Following a dispute, Microsoft severed the collaboration and IBM continued development of OS/2 on its own but it failed in the marketplace against Microsoft's Windows during the mid-1990s. In 1991 IBM began spinning off its many divisions into autonomous subsidiaries (so-called "Baby Blues") in an attempt to make
954-657: A fifth company, the Computing-Tabulating-Recording Company (CTR) based in Endicott, New York. The five companies had 1,300 employees and offices and plants in Endicott and Binghamton , New York; Dayton, Ohio ; Detroit, Michigan ; Washington, D.C. ; and Toronto , Canada. Collectively, the companies manufactured a wide array of machinery for sale and lease, ranging from commercial scales and industrial time recorders, meat and cheese slicers, to tabulators and punched cards. Thomas J. Watson, Sr. , fired from
1060-490: A final sale in 2011 completing their divestment. Mary Ma , Lenovo's chief financial officer from 1990 to 2007, was in charge of investor relations. Under her leadership, Lenovo successfully integrated Western-style accountability into its corporate culture. Lenovo's emphasis on transparency earned it a reputation for the best corporate governance among mainland Chinese firms. While Hong Kong-listed firms were only required to issue financial reports twice per year, Lenovo followed
1166-447: A focus on customer service, an insistence on well-groomed, dark-suited salesmen and had an evangelical fervor for instilling company pride and loyalty in every worker". His favorite slogan, " THINK ", became a mantra for each company's employees. During Watson's first four years, revenues reached $ 9 million ($ 158 million today) and the company's operations expanded to Europe, South America, Asia and Australia. Watson never liked
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#17330859818281272-675: A governmental research institute. Then known as Legend, the company developed numerous electronics before focusing on personal computers. Co-founder Liu Chuanzhi incorporated Legend in Hong Kong in an attempt to raise capital and was successfully permitted to build computers in China. It listed on the Hong Kong Stock Exchange in 1994 and became the largest PC manufacturer in China and eventually in Asia; they were also domestic distributors for HP printers, Toshiba laptops, and others. After
1378-696: A joint venture with Fujitsu and the Development Bank of Japan (DBJ). In the joint venture, Fujitsu would sell Lenovo a 51% stake in Fujitsu Client Computing Limited . DBJ would acquire a 5% stake. In September 2018, Lenovo and NetApp announced about strategic partnership and joint venture in China. As part of strategic partnership Lenovo started two new lines of storage systems: DM-Series and DE-Series. Both storage systems using Lenovo hardware and NetApp software: DM-Series using ONTAP OS and DE-Series SANtricity OS. In 2018, Lenovo became
1484-542: A new logo at Lenovo Tech World in Beijing, with the slogan "Innovation Never Stands Still" ( Chinese : 创新无止境 ). Lenovo's new logo, created by Saatchi, can be changed by its advertising agencies and sales partners, within restrictions, to fit the context. It has a lounging "e" and is surrounded by a box that can be changed to use a relevant scene, solid color, or photograph. Lenovo's Chief Marketing Officer David Roman said, "When we first started looking at it, it wasn't about just
1590-616: A separate lawsuit. In 2015, IBM bought the digital part of The Weather Company , Truven Health Analytics for $ 2.6 billion in 2016, and in October 2018, IBM announced its intention to acquire Red Hat for $ 34 billion, which was completed on July 9, 2019. In February 2020, IBM's John Kelly III joined Brad Smith of Microsoft to sign a pledge with the Vatican to ensure the ethical use and practice of Artificial Intelligence (AI) . IBM announced in October 2020 that it would divest
1696-475: A sharp drop in profit margins during the second quarter of fiscal year 1992; market analysts attributed the drop to a fierce price war in the personal computer market over the summer of 1992. The corporate restructuring was one of the largest and most expensive in history up to that point. By the summer of 1993, the IBM PC Co. had divided into multiple business units itself, including Ambra Computer Corporation and
1802-435: A team of engineers led by Liu Chuanzhi and Danny Lui . Initially specializing in televisions , the company migrated towards manufacturing and marketing computers. Liu Chuanzhi and his group of ten experienced engineers , teaming up with Danny Lui , officially founded Lenovo in Beijing on November 1, 1984, with 200,000 yuan . The Chinese government approved Lenovo's incorporation on the same day. Jia Xufu (贾续福), one of
1908-518: Is 43 kilometers. IBM introduced ESCON in September 1990 as part of its System/390 announcement. It replaced the older, slower (4.5 MB/s), copper-based, parallel, IBM System/360 Bus and Tag channels technology of 1960-1990 era mainframes. Optical fiber is smaller in diameter and weight, and hence could save installation costs. Space and labor could also be reduced when fewer physical links were required - due to ESCON's switching features. ESCON
2014-540: Is a manufacturer of personal computers, smartphones, televisions, and wearable devices. Some of the company's earliest products included the KT8920 mainframe computer and a circuit board that allowed IBM-compatible personal computers to process Chinese characters. One of its first computers was the Tianxi ( 天禧 ), released in 1998 in the Chinese market. It became the best selling computer in Chinese history in 2000. Lenovo markets
2120-472: Is being supplanted by the substantially faster FICON , which runs over Fibre Channel . ESCON allows the establishment and reconfiguration of channel connections dynamically, without having to take equipment off-line and manually move the cables. ESCON supports channel connections using serial transmission over a pair of fibers. The ESCON Director supports dynamic switching (which could be achieved prior to ESCON, but not with IBM-only products). It also allows
2226-502: Is not expected to significantly affect earnings. More specifically, Stoneware was acquired to further Lenovo's efforts to improve and expand its cloud-computing services. For the two years prior to its acquisition, Stoneware partnered with Lenovo to sell its software. During this period Stoneware's sales doubled. Stoneware was founded in 2000. As of September 2012, Stoneware is based in Carmel, Indiana, and has 67 employees. Lenovo re-entered
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#17330859818282332-494: Is only the second sale of bonds in Lenovo's history. Financial commentators noted that Lenovo was paying a premium to list the bonds in yuan given relatively low costs for borrowing in US dollars. Lenovo said that its x86 servers will be available to all its channel partners. Lenovo plans to cut prices on x86 products in order to gain market share. This goes in alliance with IBM 's vision of
2438-401: Is the largest industrial research organization in the world, with 19 research facilities across a dozen countries, having held the record for most annual U.S. patents generated by a business for 29 consecutive years from 1993 to 2021. IBM was founded in 1911 as the Computing-Tabulating-Recording Company (CTR), a holding company of manufacturers of record-keeping and measuring systems. It
2544-440: Is the largest shareholder of IBM and as of March 31, 2023, held 15.7% of total shares outstanding. In 2011, IBM became the first technology company Warren Buffett 's holding company Berkshire Hathaway invested in. Initially he bought 64 million shares costing $ 10.5 billion. Over the years, Buffett increased his IBM holdings, but by the end of 2017 had reduced them by 94.5% to 2.05 million shares; by May 2018, he
2650-560: The FORTRAN scientific programming language was developed. In 1961, IBM developed the SABRE reservation system for American Airlines and introduced the highly successful Selectric typewriter. In 1963, IBM employees and computers helped NASA track the orbital flights of the Mercury astronauts. A year later, it moved its corporate headquarters from New York City to Armonk, New York. The latter half of
2756-624: The IBM Personal Computer , — its DOS software provided by Microsoft , — which became the basis for the majority of personal computers to the present day. The company later also found success in the portable space with the ThinkPad . Since the 1990s, IBM has concentrated on computer services , software , supercomputers , and scientific research ; it sold its microcomputer division to Lenovo in 2005. IBM continues to develop mainframes, and its supercomputers have consistently ranked among
2862-800: The IBM Rome Software Lab (Rome, Italy), Hursley House (Winchester, UK), 330 North Wabash (Chicago, Illinois, United States), the Cambridge Scientific Center (Cambridge, Massachusetts, United States), the IBM Toronto Software Lab (Toronto, Canada), the IBM Building, Johannesburg (Johannesburg, South Africa), the IBM Building (Seattle) (Seattle, Washington, United States), the IBM Hakozaki Facility (Tokyo, Japan),
2968-840: The IBM Yamato Facility (Yamato, Japan), the IBM Canada Head Office Building (Ontario, Canada) and the Watson IoT Headquarters (Munich, Germany). Defunct IBM campuses include the IBM Somers Office Complex (Somers, New York), Spango Valley (Greenock, Scotland), and Tour Descartes (Paris, France). The company's contributions to industrial architecture and design include works by Marcel Breuer , Eero Saarinen , Ludwig Mies van der Rohe , I.M. Pei and Ricardo Legorreta . Van der Rohe's building in Chicago
3074-621: The IdeaPad , Yoga , LOQ, and Legion consumer lines of notebooks, and the IdeaCentre , LOQ, Legion, and ThinkCentre lines of desktops. Lenovo is also part of a joint venture with NEC , named Lenovo NEC Holdings, that produces personal computers for the Japanese market. The company also operates Motorola Mobility which produced smartphones. Lenovo was founded in Beijing on 1 November 1984 as Legend by
3180-713: The Moto X , Moto G , Droid Turbo , and the future Motorola Mobility product roadmap, while Google retained the Advanced Technologies & Projects unit and all but 2,000 of the company's patents. Lenovo received royalty free licenses to all the patents retained by Google. Lenovo received approval from the European Union for its acquisition of Motorola in June 2014. The acquisition was completed on 30 October 2014. Motorola Mobility remained headquartered in Chicago, and continued to use
3286-532: The National Cash Register Company by John Henry Patterson , called on Flint and, in 1914, was offered a position at CTR. Watson joined CTR as general manager and then, 11 months later, was made President when antitrust cases relating to his time at NCR were resolved. Having learned Patterson's pioneering business practices, Watson proceeded to put the stamp of NCR onto CTR's companies. He implemented sales conventions, "generous sales incentives,
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3392-408: The ThinkPad , IdeaPad , Yoga , Legion and Xiaoxin ( 小新 ; Chinese market only) lines of laptops, as well as the IdeaCentre and ThinkCentre lines of desktops. It expanded significantly in 2005 through its acquisition of IBM 's personal computer business, including its ThinkPad and ThinkCentre lines. As of January 2013, shipments of THINK-branded computers have doubled since Lenovo's takeover of
3498-445: The UPC barcode . The company has made inroads in advanced computer chips , quantum computing , artificial intelligence , and data infrastructure . IBM employees and alumni have won various recognitions for their scientific research and inventions, including six Nobel Prizes and six Turing Awards . IBM originated with several technological innovations developed and commercialized in
3604-590: The Universal Product Code . IBM and the World Bank first introduced financial swaps to the public in 1981, when they entered into a swap agreement. IBM entered the microcomputer market in the 1980s with the IBM Personal Computer (IBM 5150), which soon became known as the PC , one of IBM's best selling products. Due to a lack of foresight by IBM, the PC was not well protected by intellectual property laws. As
3710-410: The magnetic stripe card that would become ubiquitous for credit/debit/ATM cards, driver's licenses, rapid transit cards and a multitude of other identity and access control applications. IBM pioneered the manufacture of these cards, and for most of the 1970s, the data processing systems and software for such applications ran exclusively on IBM computers. In 1974, IBM engineer George J. Laurer developed
3816-566: The 1960s saw IBM continue its support of space exploration, participating in the 1965 Gemini flights, 1966 Saturn flights, and 1969 lunar mission. IBM also developed and manufactured the Saturn V's Instrument Unit and Apollo spacecraft guidance computers. On April 7, 1964, IBM launched the first computer system family, the IBM System/360 . It spanned the complete range of commercial and scientific applications from large to small, allowing companies for
3922-633: The Hong Kong market in March 2000 and raised about US$ 212 million . It rebranded to the name Lenovo in 2003 and began making acquisitions to expand the company. Lenovo acquired IBM 's personal computer business in 2005, including the ThinkPad laptop and ThinkCentre desktop lines. Lenovo's acquisition of IBM's personal computer division accelerated access to foreign markets while improving Lenovo's branding and technology. Lenovo paid US$ 1.25 billion for IBM's computer business and assumed an additional US$ 500 million of IBM's debt. This acquisition made Lenovo
4028-484: The IBM PC Co. was dissolved and merged into IBM Personal Systems Group. In 2002 IBM acquired PwC Consulting, the consulting arm of PwC which was merged into its IBM Global Services . On September 14, 2004, LG and IBM announced that their business alliance in the South Korean market would end at the end of that year. Both companies stated that it was unrelated to the charges of bribery earlier that year. Xnote
4134-493: The IBM Power Personal Systems Group, the former an attempt to design and market " clone " computers of IBM's own architecture and the latter responsible for IBM's PowerPC -based workstations . IBM PC Co. introduced the ThinkPad clone computers, which IBM would heavily market and would eventually become one of the best-selling series of notebook computers . In 1993, IBM posted an $ 8 billion loss – at
4240-782: The IBM website. On June 7, Krishna announced that IBM would carry out an "orderly wind-down" of its operations in Russia. In late 2022, IBM started a collaboration with new Japanese manufacturer Rapidus , which led GlobalFoundries to file a lawsuit against IBM the following year. In 2023, IBM acquired Manta Software Inc. to complement its data and A.I. governance capabilities for an undisclosed amount. On November 16, 2023, IBM suspended ads on Twitter after ads were found next to pro-Nazi content. In December 2023, IBM announced it would acquire Software AG 's StreamSets and webMethods platforms for €2.13 billion ($ 2.33 billion). IBM's market capitalization
4346-532: The LePhone. At the same time, LeGarden counted 2,774 individual developers and 542 developer companies as members. On January 27, 2011, Lenovo formed a joint venture to produce personal computers with Japanese electronics firm NEC . The companies said in a statement that they would establish a new company called Lenovo NEC Holdings, to be registered in the Netherlands. NEC received US$ 175 million in Lenovo stock. Lenovo
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4452-547: The LenovoEMC brand, and designed products for small and medium-sized businesses that could not afford enterprise-class data storage. Lenovo has since retired all of the LenovoEMC products on their product page advising that the products are no longer available for purchase on lenovo.com. IBM sold its x86-based server lines, including System x and Blade Center , to Lenovo in 2014. Lenovo says it will gain access to more enterprise customers, improve its profit margins, and develop
4558-533: The Managed Infrastructure Services unit of its Global Technology Services division into a new public company. The new company, Kyndryl , will have 90,000 employees, 4,600 clients in 115 countries, with a backlog of $ 60 billion. IBM's spin off was greater than any of its previous divestitures, and welcomed by investors. IBM appointed Martin Schroeter, who had been IBM's CFO from 2014 through
4664-507: The Motorola brand, but Liu Jun, president of Lenovo's mobile device business, became the head of the company. In April 2014, Lenovo purchased a portfolio of patents from NEC related to mobile technology. These included over 3,800 patent families in countries around the world. The purchase included standards-essential patents for 3G and LTE cellular technologies and other patents related to smartphones and tablets. In May 2015, Lenovo revealed
4770-592: The No. 2 provider of smartphones in the domestic Chinese market in 2012. However, with approximately 100 smartphone brands sold in China, this only equated to a 10.4% market share. In May 2012, Lenovo announced an investment of US$ 793 million in the construction of a mobile phone manufacturing and R&D facility in Wuhan , Hubei . In 2013, Lenovo created a joint venture with EMC named Iomega . The venture took over Iomega's business and rebranded all of Iomega's products under
4876-570: The SBCON standard, which is now managed by X3T11 . IBM International Business Machines Corporation (using the trademark IBM ), nicknamed Big Blue , is an American multinational technology company headquartered in Armonk, New York and present in over 175 countries. It is a publicly traded company and one of the 30 companies in the Dow Jones Industrial Average . IBM
4982-587: The United States Department of Treasury Committee on Foreign Investment in the United States (CFIUS) was reportedly the last major hurdle for Lenovo, since the United States has the strictest policies. According to Timothy Prickett-Morgan from Enterprise Tech, the deal still awaits "approval of regulators in China, the European Commission , and Canada". After closing, Lenovo said that its goal
5088-509: The Weather Channel mobile app. Also that year, IBM employees created the film A Boy and His Atom , which was the first molecule movie to tell a story. In 2016, IBM acquired video conferencing service Ustream and formed a new cloud video unit. In April 2016, it posted a 14-year low in quarterly sales. The following month, Groupon sued IBM accusing it of patent infringement, two months after IBM accused Groupon of patent infringement in
5194-455: The ability to build a new corporate culture. At the end of its first two years, Lenovo Group had met many of its original challenges, including integrating two disparate cultures in the newly formed company, maintaining the Think brand image for quality and innovation, and improving supply chain and manufacturing efficiencies. However, Lenovo had failed to meet a key objective of the merger: leveraging
5300-542: The acquisition would double its share of the German computer market, making it the third-largest vendor by sales (after Acer and Hewlett-Packard ). The deal, which closed in the third quarter of the same year, was claimed by The New York Times as "the first in which a Chinese company acquired a well-known German company." This acquisition will give Lenovo 14% of the German computer market. Gerd Brachmann, chairman of Medion, agreed to sell two-thirds of his 60 per cent stake in
5406-515: The acquisition, Lenovo announced that its subsequent acquisitions would be concentrated in software and services. In September 2012, Lenovo agreed to acquire the United States–based software company Stoneware, in its first software acquisition. The transaction was expected to close by the end of 2012; no financial details have been disclosed. Lenovo said that the company was acquired in order to gain access to new technology and that Stoneware
SECTION 50
#17330859818285512-463: The antitrust laws in IBM's actions directed against leasing companies and plug-compatible peripheral manufacturers. Shortly after, IBM unbundled its software and services in what many observers believed was a direct result of the lawsuit, creating a competitive market for software. In 1982, the Department of Justice dropped the case as "without merit". Also in 1969, IBM engineer Forrest Parry invented
5618-827: The authority to hire 16 people, 58 were given offers. The new staff included 18 people with graduate degrees, 37 with undergraduate degrees, and three students with no university-level education. Yang Yuanqing , the current chairman and CEO of Lenovo, was among that group. Liu Chuanzhi received government permission to form a subsidiary in Hong Kong and to move there along with five other employees. Liu's father, already in Hong Kong along with Lui, furthered his son's ambitions through mentoring and facilitating loans. Liu moved to Hong Kong in 1988. To save money during this period, Liu and his co-workers walked instead of taking public transportation. To keep up appearances, they rented hotel rooms for meetings. In 1990, Lenovo started to manufacture and market computers using its own brand name. Some of
5724-615: The brand, with profit margins thought to be above 5%. Lenovo aggressively expanded the THINK brand away from traditional laptop computers in favor of tablets and hybrid devices such as the ThinkPad Tablet 2 , ThinkPad Yoga , ThinkPad 8 , ThinkPad Helix , and ThinkPad Twist ; the shift came as a response to the growing popularity of mobile devices, and the release of Windows 8 in October 2012. Lenovo achieved significant success with this high-value strategy and in 2013 controlled more than 40% of
5830-591: The city's seventh tallest building and overlooking Beijing National Stadium ("Bird's Nest") , home to the 2008 Summer Olympics . IBM India Private Limited is the Indian subsidiary of IBM, which is headquartered at Bangalore , Karnataka. It has facilities in Coimbatore , Chennai , Kochi , Ahmedabad , Delhi , Kolkata , Mumbai , Pune , Gurugram , Noida , Bhubaneshwar , Surat , Visakhapatnam , Hyderabad , Bangalore and Jamshedpur . Other notable buildings include
5936-560: The clumsy hyphenated name "Computing-Tabulating-Recording Company" and chose to replace it with the more expansive title "International Business Machines" which had previously been used as the name of CTR's Canadian Division; the name was changed on February 14, 1924. By 1933, most of the subsidiaries had been merged into one company, IBM. The Nazis made extensive use of Hollerith punch card and alphabetical accounting equipment and IBM's majority-owned German subsidiary, Deutsche Hollerith Maschinen GmbH ( Dehomag ), supplied this equipment from
6042-679: The combined strength of the two companies to grow volume and market share. In order to achieve success, Lenovo embraced diversification at multiple levels- business model, culture, and talent. By 2015, Lenovo grew into the world's number 1 PC maker, number 3 smartphone manufacturer and number 3 in the production of tablet computers. In March 2017, Lenovo announced it was partnering with Fort Lauderdale, Florida–based software storage virtualization company DataCore to add DataCore's parallel I/O -processing software to Lenovo's storage devices. The servers were reportedly designed to outperform Storage Area Network (SAN) SAN arrays. In 2017, Lenovo formed
6148-526: The company agreed upon at this meeting was the Chinese Academy of Sciences Computer Technology Research Institute New Technology Development Company. The organizational structure of the company was established in 1985 after the Chinese New Year . It included technology, engineering, administrative, and office departments. The group first attempted to import televisions but failed. It rebuilt itself as
6254-461: The company designed a video surveillance system for Davao City . In 2014 IBM announced it would sell its x86 server division to Lenovo for $ 2.1 billion. while continuing to offer Power ISA -based servers. Also that year, IBM began announcing several major partnerships with other companies, including Apple Inc. , Twitter, Facebook, Tencent , Cisco , UnderArmour , Box , Microsoft , VMware , CSC , Macy's , Sesame Workshop ,
6360-480: The company hit $ 60 billion in annual revenues. On 8 October 2021, Lenovo withdrew its application to list on the Shanghai Stock Exchange just days after it had been accepted by the exchange, citing the possibility of the validity of financial information in its prospectus lapsing as the reason. The price of the company's shares on the Hong Kong Stock Exchange dropped by over 17% following the news, which
6466-421: The company more manageable and to streamline IBM by having other investors finance those companies. These included AdStar , dedicated to disk drives and other data storage products; IBM Application Business Systems, dedicated to mid-range computers; IBM Enterprise Systems, dedicated to mainframes; Pennant Systems, dedicated to mid-range and large printers; Lexmark , dedicated to small printers; and more. Lexmark
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#17330859818286572-438: The company publicly announced its new English name, "Lenovo", with an advertising campaign including huge billboards and primetime television ads. Lenovo spent 18 million RMB on an eight-week television advertising campaign. The billboards showed the Lenovo logo against blue sky with a slogan that read, "Transcendence depends on how you think." By the end of 2003, Lenovo had spent a total of 200 million RMB on rebranding. Lenovo
6678-600: The company rebranded itself to Lenovo, it acquired IBM 's PC business including its ThinkPad line in 2005, after which it rapidly expanded abroad. In 2013, Lenovo became the world's largest personal computer vendor by unit sales for the first time, a position it still holds as of 2024. Products manufactured by the company include desktop computers , laptops , tablet computers , smartphones , workstations , servers , supercomputers , data storage devices, IT management software, and smart televisions . Its best-known brands include its ThinkPad business line of notebooks,
6784-476: The company's early successes included the KT8920 mainframe computer. It also developed a circuit board that allowed IBM-compatible personal computers to process Chinese characters. Lenovo (known at the time as Legend) became publicly traded after a 1994 Hong Kong IPO that raised nearly US$ 30 million at HK$ 1.33 per share. Prior to the IPO, many analysts were optimistic about Lenovo. On its first day of trading,
6890-415: The company's international resources, such as its global sales channels and operation teams. These three elements have shored up our sales revenue in the past several years." The employees of the division, including those who developed ThinkPad laptops and Think Centre desktops, became employees of Lenovo. Despite Lenovo acquiring the "Think" brand from IBM, IBM still plays a key indirect, background role in
6996-488: The company's stock price hit a high of HK$ 2.07 and closed at HK$ 2.00 suggesting an initial under-valuing of the company. Proceeds from the offering were used to finance sales offices in Europe, North America and Australia, to expand and improve production and research and development, and to increase working capital. By 1996, Lenovo was the market leader in China and began selling its own laptop. By 1998 it held 43 per cent of
7102-481: The company. He will be paid in cash for 80 per cent of the shares and will receive 20 per cent in Lenovo stock. That would give him about one per cent of Lenovo. In September 2012, Lenovo agreed to acquire the Brazil -based electronics company Digibras, which sells products under the brand-name CCE, for a base price of R$ 300 million (US$ 148 million) in a combination of stock and cash. An additional payment of R$ 400 million
7208-616: The conference and both gave speeches on corporate governance. Lenovo sold its smartphone and tablet division in 2008 for US$ 100 million in order to focus on personal computers and then paid US$ 200 million to buy it back in November 2009. As of 2009 , the mobile division ranked third in terms of unit share in China's mobile handset market. Lenovo invested CN¥ 100 million in a fund dedicated to providing seed funding for mobile application development for its LeGarden online app store . As of 2010, LeGarden had more than 1,000 programs available for
7314-429: The design and production of the Think line of products. Today, IBM is responsible for overseeing servicing and repair centers, and is considered an authorized distributor and refurbisher of the Think line of products produced by Lenovo. IBM also acquired an 18.9% share of Lenovo in 2005 as part of Lenovo's purchase of IBM's personal computing division. In the years following the deal, IBM sold their stake in Lenovo, with
7420-465: The distance between units to be extended up to 60 km over a dedicated fiber. "Permanent virtual circuits" are supported through the switch. ESCON switching has advantages over a collection of point-to-point links. A peripheral previously capable of accessing a single mainframe can now be connected simultaneously to up to eight mainframes, providing peripheral sharing. The ESCON interface specifications were adopted in 1996 by ANSI X3T1 committee as
7526-463: The domestic computer market share in China, selling approximately one million computers. Lenovo released its Tianxi ( 天禧 ) computer in 1998. Designed to make it easy for inexperienced Chinese consumers to use computers and access the internet, one of its most important features was a button that instantly connected users to the internet and opened the Web browser. It was co-branded with China Telecom and it
7632-470: The early 1930s. This equipment was critical to Nazi efforts to categorize citizens of both Germany and other nations that fell under Nazi control through ongoing censuses. These census data were used to facilitate the round-up of Jews and other targeted groups, and to catalog their movements through the machinery of the Holocaust , including internment in the concentration camps. Nazi concentration camps operated
7738-548: The end of 2017, as CEO of Kyndryl. In 2021, IBM announced the acquisition of the enterprise software company Turbonomic for $ 1.5 billion. In January 2022, IBM announced it would sell Watson Health to private equity firm Francisco Partners . On March 7, 2022, a few days after the start of the Russian invasion of Ukraine , IBM CEO Arvind Krishna published a Ukrainian flag and announced that "we have suspended all business in Russia". All Russian articles were also removed from
7844-445: The enterprise-oriented Personal Systems Group of the IBM PC Co. into IBM's own Global Services personal computer consulting and customer service division. The resulting merged business units then became known simply as IBM Personal Systems Group. A year later, IBM stopped selling their computers at retail outlets after their market share in this sector had fallen considerably behind competitors Compaq and Dell . Immediately afterwards,
7950-530: The first time to upgrade to models with greater computing capability without having to rewrite their applications. It was followed by the IBM System/370 in 1970. Together the 360 and 370 made the IBM mainframe the dominant mainframe computer and the dominant computing platform in the industry throughout this period and into the early 1980s. They and the operating systems that ran on them such as OS/VS1 and MVS , and
8056-515: The founders of Lenovo, indicated that the first meeting in preparation for starting the company was held on October 17 the same year. Eleven people, the entirety of the initial staff, attended. Each of the founders was a member of the Institute of Computing Technology of the Chinese Academy of Sciences (CAS). The 200,000 yuan used as start-up capital was approved by Zeng Maochao (曾茂朝). The name for
8162-515: The future around cloud technologies and their own POWER processor architecture. Lenovo's acquisition of IBM's businesses is arguably one of the greatest case studies on merging massive international enterprises. Though this acquisition in 2005 ultimately resulted in success, the integration of the businesses had a difficult and challenging beginning. Lenovo had employees from different cultures, different backgrounds, and different languages. These differences caused misunderstandings, hampering trust and
8268-422: The international norm of issuing quarterly reports. Lenovo created an audit committee and a compensation committee with non-management directors. The company started roadshows twice per year to meet institutional investors. Ma organized the first-ever investor relations conference held in mainland China. The conference was held in Beijing in 2002 and televised on China Central Television (CCTV). Liu and Ma co-hosted
8374-675: The larger ones. In New York City, IBM has several offices besides CHQ, including the IBM Watson headquarters at Astor Place in Manhattan. Outside of New York, major campuses in the United States include Austin, Texas ; Research Triangle Park (Raleigh-Durham), North Carolina ; Rochester, Minnesota ; and Silicon Valley, California . IBM's real estate holdings are varied and globally diverse. Towers occupied by IBM include 1250 René-Lévesque (Montreal, Canada) and One Atlantic Center (Atlanta, Georgia, US). In Beijing, China, IBM occupies Pangu Plaza ,
8480-552: The late 19th century. Julius E. Pitrap patented the computing scale in 1885; Alexander Dey invented the dial recorder (1888); Herman Hollerith patented the Electric Tabulating Machine (1889); and Willard Bundy invented a time clock to record workers' arrival and departure times on a paper tape (1889). On June 16, 1911, their four companies were amalgamated in New York State by Charles Ranlett Flint forming
8586-447: The latest being the IBM z series. The most recent model, the IBM z16 , was released in 2022. In 1990, IBM released the Power microprocessors , which were designed into many console gaming systems, including Xbox 360 , PlayStation 3 , and Nintendo 's Wii U . IBM Secure Blue is encryption hardware that can be built into microprocessors, and in 2014, the company revealed TrueNorth ,
8692-425: The longer term. The key trends of IBM are (as at the financial year ending December 31): The company's 15-member board of directors are responsible for overall corporate management and includes the current or former CEOs of Anthem , Dow Chemical , Johnson and Johnson , Royal Dutch Shell , UPS , and Vanguard as well as the president of Cornell University and a retired U.S. Navy admiral . Vanguard Group
8798-575: The mid-1950s. There are two other IBM buildings within walking distance of CHQ: the North Castle office, which previously served as IBM's headquarters; and the Louis V. Gerstner, Jr., Center for Learning (formerly known as IBM Learning Center (ILC)), a resort hotel and training center, which has 182 guest rooms, 31 meeting rooms, and various amenities. IBM operates in 174 countries as of 2016 , with mobility centers in smaller market areas and major campuses in
8904-600: The middleware built on top of those such as the CICS transaction processing monitor, had a near-monopoly-level market share and became the thing IBM was most known for during this period. In 1969, the United States of America alleged that IBM violated the Sherman Antitrust Act by monopolizing or attempting to monopolize the general-purpose electronic digital computer system market, specifically computers designed primarily for business, and subsequently alleged that IBM violated
9010-447: The most powerful in the world in the 21st century. As one of the world's oldest and largest technology companies, IBM has been responsible for several technological innovations , including the automated teller machine (ATM), dynamic random-access memory (DRAM), the floppy disk , the hard disk drive , the magnetic stripe card , the relational database , the SQL programming language , and
9116-400: The parent company of Sesame Street , and Salesforce.com . In 2015, its chip division transitioned to a fabless model with semiconductors design, offloading manufacturing to GlobalFoundries . In 2015, IBM announced three major acquisitions: Merge Healthcare for $ 1 billion, data storage vendor Cleversafe , and all digital assets from The Weather Company , including Weather.com and
9222-411: The smartphone market in 2012 and quickly became the largest vendor of smartphones in mainland China. Entry into the smartphone market was paired with a change of strategy from "the one-size-fits-all" to a diverse portfolio of devices. These changes were driven by the popularity of Apple's iPhone and Lenovo's desire to increase its market share in mainland China. Lenovo surpassed Apple Inc. to become
9328-549: The third-largest computer maker worldwide by volume. Lenovo's purchase of the Think line from IBM also led to the creation of the IBM/Lenovo partnership, which works together in the creation of Think-line of products sold by Lenovo. On the purchase of IBM's personal computer division, Chuanzhi said in 2012: "We benefited in three ways from the IBM acquisition. We got the ThinkPad brand, IBM's more advanced PC manufacturing technology and
9434-532: The time the biggest in American corporate history. Lou Gerstner was hired as CEO from RJR Nabisco to turn the company around. In 1995, IBM purchased Lotus Software , best known for its Lotus 1-2-3 spreadsheet software. During the decade, IBM was working on a new operating system, named the Workplace OS project. Despite a large amount of money spent on the project, it was cancelled in 1996. In 1998, IBM merged
9540-608: The vacuum tube based IBM 701 , in 1952. The IBM 305 RAMAC introduced the hard disk drive in 1956. The company switched to transistorized designs with the 7000 and 1400 series, beginning in 1958. In which, IBM considered the 1400 series the ''model T'' of computing, due to it being the first computer with over ten thousand sales by IBM. In 1956, the company demonstrated the first practical example of artificial intelligence when Arthur L. Samuel of IBM's Poughkeepsie , New York, laboratory programmed an IBM 704 not merely to play checkers but "learn" from its own experience. In 1957,
9646-613: The world's largest provider for the TOP500 supercomputers . In 2020, Lenovo became a preferred data center innovation provider for DreamWorks Animation starting with Trolls World Tour . On 12 January 2021, Lenovo filed an application to issue Chinese depositary receipts, representing newly issued ordinary shares, and to list them on the Science and Technology Innovation Board of the Shanghai Stock Exchange . In April 2021, Lenovo
9752-476: Was acquired by Clayton & Dubilier in a leveraged buyout shortly after its formation. In September 1992, IBM completed the spin-off of their various non-mainframe and non-midrange, personal computer manufacturing divisions, combining them into an autonomous wholly owned subsidiary known as the IBM Personal Computer Company (IBM PC Co.). This corporate restructuring came after IBM reported
9858-1103: Was announced that IBM will build Europe's first quantum computer in Ehningen, Germany . The center, to be operated by the Fraunhofer Society , was still in construction as of 2023, with cloud access planned in 2024. Lenovo Lenovo Group Limited , trading as Lenovo ( / l ə ˈ n oʊ v oʊ / lə- NOH -voh , Chinese : 联想 ; pinyin : Liánxiǎng ), is a Chinese-American multinational technology company specializing in designing, manufacturing, and marketing consumer electronics , personal computers , software, servers, converged and hyperconverged infrastructure solutions, and related services. Its global headquarters are in Beijing , and Morrisville, North Carolina , United States; it has research centers at these locations, elsewhere in China, in Stuttgart, Germany , and in Yamato, Japan . Lenovo originated as an offshot of
9964-439: Was bundled with one year of Internet service. The Tianxi was released in 1998. It was the result of two years of research and development. It had a pastel-colored, shell-shaped case and a seven-port USB hub under its screen. As of 2000, the Tianxi was the best-selling computer in Chinese history. It sold more than 1,000,000 units in 2000 alone. To fund its continued growth, Lenovo issued a secondary offering of 50 million shares on
10070-400: Was completely out of IBM. IBM is headquartered in Armonk, New York , a community 37 miles (60 km) north of Midtown Manhattan. A nickname for the company is the " Colossus of Armonk ". Its principal building, referred to as CHQ, is a 283,000-square-foot (26,300 m ) glass and stone edifice on a 25-acre (10 ha) parcel amid a 432-acre former apple orchard the company purchased in
10176-400: Was exhibited on Jeopardy! where it won against game-show champions Ken Jennings and Brad Rutter. The company also celebrated its 100th anniversary in the same year on June 16. In 2012, IBM announced it had agreed to buy Kenexa and Texas Memory Systems, and a year later it also acquired SoftLayer Technologies, a web hosting service , in a deal worth around $ 2 billion. Also that year,
10282-563: Was first used to refer to a layout of Chinese typewriters in the 1950s organized into groups of common words and phrases rather than the standard dictionary layout. For the first 20 years of its existence, the company's English name was "Legend". In 2002, Yang Yuanqing decided to abandon the Legend English name to expand beyond the Chinese home market. "Legend" was already in use worldwide by many businesses, making it impossible to register in many jurisdictions outside China. In April 2003,
10388-408: Was its biggest intraday decline in over a decade. "Lenovo" is a portmanteau of "Le-" (from Legend) and "novo", Latin ablative for "new". The Chinese name ( simplified Chinese : 联想 ; traditional Chinese : 聯想 ; pinyin : Liánxiǎng ) means "association" (as in "association of ideas"), "associative thinking", or "connected thinking". It also implies creativity. "Lianxiang"
10494-480: Was made dependent upon performance benchmarks. Prior to its acquisition of CCE, Lenovo already established a $ 30 million factory in Brazil, but Lenovo's management had felt that they needed a local partner to maximize regional growth. Lenovo cited their desire to take advantage of increased sales due to the 2014 World Cup that would be hosted by Brazil and the 2016 Summer Olympics and CCE's reputation for quality. Following
10600-633: Was originally part of the joint venture and was sold by LG in 2012. Continuing a trend started in the 1990s of downsizing its operations and divesting from commodity production , IBM sold all of its personal computer business to Chinese technology company Lenovo and, in 2009, it acquired software company SPSS Inc. Later in 2009, IBM's Blue Gene supercomputing program was awarded the National Medal of Technology and Innovation by U.S. President Barack Obama . In 2011, IBM gained worldwide attention for its artificial intelligence program Watson , which
10706-497: Was recognized with the 1990 Honor Award from the National Building Museum . IBM has a large and diverse portfolio of products and services. As of 2016 , these offerings fall into the categories of cloud computing , artificial intelligence, commerce , data and analytics , Internet of things (IoT), IT infrastructure , mobile , digital workplace and cybersecurity . Since 1954, IBM sells mainframe computers ,
10812-471: Was renamed "International Business Machines" in 1924 and soon became the leading manufacturer of punch-card tabulating systems . During the 1960s and 1970s, the IBM mainframe , exemplified by the System/360 , was the world's dominant computing platform , with the company producing 80 percent of computers in the U.S. and 70 percent of computers worldwide. IBM debuted in the microcomputer market in 1981 with
10918-526: Was reorganized into three divisions: The Intelligent Devices Group for PCs, Smartphones, Smart Collaboration products, Augmented and Virtual Reality solutions and Internet of Things devices, the Infrastructure Solutions Group (formally known as Data Center Group) for smart infrastructure solutions, and the Solutions and Services Group focused on services and industry-specific products. That year,
11024-638: Was to become the world's largest maker of servers. Lenovo also announced plans to start integrating IBM's workforce. The acquisition added about 6,500 new employees to Lenovo. Lenovo said that it has no immediate intent to cut jobs. Lenovo said that positions in research and development and customer-facing roles such as marketing would be "100% protected", but expected "rationalization" of its supply chain and procurement. On 29 January 2014, Google announced it would sell Motorola Mobility to Lenovo for US$ 2.91 billion. As of February 2014, Google owned about 5.94% of Lenovo's stock. The deal included smartphone lines like
11130-495: Was to own a 51% stake in the joint venture, while NEC would have 49%. Lenovo has a five-year option to expand its stake in the joint venture. This joint venture was intended to boost Lenovo's worldwide sales by expanding its presence in Japan, a key market for personal computers. NEC spun off its personal computer business into the joint venture. As of 2010, NEC controlled about 20% of Japan's market for personal computers while Lenovo had
11236-480: Was valued at over $ 153 billion as of May 2024. Despite its relative decline within the technology sector, IBM remains the seventh largest technology company by revenue, and 67th largest overall company by revenue in the United States . IBM ranked No. 38 on the 2020 Fortune 500 rankings of the largest United States corporations by total revenue. In 2014, IBM was accused of using "financial engineering" to hit its quarterly earnings targets rather than investing for
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