Top 10 business and economic leaders of 2012
- By Yang Xi
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E-mail China.org.cn, December 27, 2012
Yang Yuanqing
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Yang Yuanqing is the current president and CEO of Lenovo Group Ltd. [Photo/cctv.com] |
Yang Yuanqing is the current president and CEO of Lenovo Group Ltd.
Lenovo Group Ltd. overtook US-based Hewlett-Packard Corporation in the third quarter of this year, to become the largest seller of personal computers (PC) in the world-measured by shipments. Lenovo accounted for 15.7 percent of all PC shipments over the third quarter, while HP held 15.5 percent. Another US-based PC maker, Dell Corporation, controlled about 10.5 percent of the market during the same period.
Lenovo's success is attributed to its long-term focus on emerging markets and successful overseas mergers and acquisitions. Facing a low profit margin in the PC business, plus the fierce competition from tablet PCs and smartphones, the company is embarking on new strategies to diversify its businesses.
Lenovo bought IBM's PC business in a $1.75bn (£900m) deal in 2005. The purchase brought IBM's leading enterprise-class PC technologies to the consumer market and in addition gave Lenovo a global market reach beyond China and Asia.
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