Chinese firm completes purchase of IBM PC division


Chinese firm completes purchase of IBM PC division

Anthony Savvas

Chinese firm Lenovo has completed the acquisition of IBM’s personal computing division, and has now become the third largest PC manufacturer in the world behind Dell and HP.

The expanded $13bn (£7.22bn) turnover company now plans to introduce a new range of desktops and will keep the IBM Thinkpad brand for a new line of laptops.

“Lenovo is well-positioned with competitive strengths in branding, world-class scale and industry-leading efficiency,” said Lenovo chief executive Stephen Ward.

“Lenovo’s leading R&D and global distribution network – through our unique alliance with IBM – give us a powerful competitive position in global markets. Within weeks we will be introducing new products as the new Lenovo,” he said.

Lenovo paid IBM $1.25bn in cash and Lenovo shares for the PC division. IBM has a 19% stake in Lenovo.

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