Applied Mergers And Acquisitions Rare

The Affordable Care Act (ACA) has unleashed a merger frenzy, with hospitals scrambling to shore up their market positions, improve operational efficiency, and create organizations capable of managing population health. The figures are impressive: 105 deals were reported in 2012 alone, up from 50 to 60 annually in the pre-ACA, pre-recession years of 2005–2007. This activity could have lasting repercussions for consumers; the last hospital-merger wave (in the 1990s) led to substantial price increases with little or no countervailing benefit. Since the primary driver of growth in private spending in recent years has been price increases for health care services, a compelling argument can be made for putting the brakes on consolidation.

What alternative means of acquisition are there? The principal methods of public M&A are: (a) Asset acquisition Asset acquisitions are used in the same manner as in.

But, unless new public and private initiatives are developed to discourage consolidation and to support enforcement of antitrust law, most of these deals will proceed unchallenged. At the moment, the agencies responsible for enforcing antitrust law are well positioned to investigate and, if the evidence warrants, to challenge one particular type of consolidation: so-called horizontal mergers of providers that supply similar services in geographic proximity. In the past year alone, two hospital systems were forced to abandon their plans to acquire nearby rivals, and a third system is appealing an order to divest a recently acquired hospital. Enforcers have also objected to hospitals' accumulating market power in physician services by acquiring competing practices in the same specialty and geographic area. For example, this fall, the Federal Trade Commission (FTC) challenged the purchase of Saltzer Medical Group in Nampa, Idaho, by St. Luke's, the state's leading hospital system. Together with Idaho's attorney general, the FTC has alleged that combining St.

Luke's 12% market share in adult primary care services with Saltzer's 66% would reduce competition in the adult primary care services market and increase St. Luke's bargaining leverage, which would ultimately lead to increased health care costs. Notwithstanding these important victories and ongoing efforts, even seemingly straightforward challenges of horizontal mergers can prove problematic. In February, for example, the FTC scored a victory in the Supreme Court, winning the right to challenge a merger that combined the only two general acute care hospitals in the six-county area surrounding Albany, Georgia, despite the merging parties' attempt to invoke “state action doctrine” to exempt them from federal antitrust oversight. The case was remanded to the lower court for a trial on the merits. However, the lower-court judge had earlier denied the FTC's request for a preliminary injunction to prevent the hospitals from merging until the case could be tried, and the hospitals combined operations in 2011 and ceded a state license that enabled them to operate two independent facilities. The FTC settled the case in August without having its day in court.

If the agency had prevailed at a trial and obtained a court order to force the merged hospitals to divest a campus, the prospective acquirer would still need to obtain a license from Georgia's Certificate of Need Commission in order to operate it. In a press release announcing the settlement, the FTC acknowledged that such an outcome was unlikely. Even when mergers have not yet been consummated or the prospects for dissolving a union are rosier, enforcers must devote substantial time and resources to evaluating these individual transactions and — if appropriate — to satisfying the legal standards for challenging them. Economics experts must comb through reams of claims data, using complex statistical methods to assess the extent to which the merging hospitals compete and, where possible, to predict the magnitude of likely price increases. On the other side of the scale, enforcers must weigh the potential benefits that would accrue from the merger (and that cannot otherwise be realized), which may arise from cost reductions, improvements in quality or access to care, or all of the above. Quantifying these benefits is particularly difficult because of the dearth of relevant empirical research and the lack of consensus on what should be measured and what value should be assigned to it.

The complexity of this undertaking highlights a fundamental enforcement reality. If it's this hard for regulators to demonstrate why a patently worrisome acquisition should be blocked, it is even less likely that they will investigate or attempt to halt mergers for which potential effects are unclear. Many of the deals taking place today involve health care providers that cover separate geographic or service areas. As others have observed, such deals do not generally raise concerns under conventional antitrust analysis.

Although new evidence links multimarket hospital systems to higher prices, more research is needed to confirm this result. In addition, to block mergers, the government must prove that postmerger price increases result from diminished competition between merging parties. Other factors, such as tougher bargaining stances by larger systems, may also play a role.

Several economists (including me) are working on models and methods for determining when such combinations could generate “actionable antitrust offenses” even in circumstances in which final consumers do not view the providers as close substitutes for one another. Even if such work were to demonstrate cause for concern, however, it can take years to make scholarship courtroom-ready, and not all legal professionals embrace complex economic models. For these reasons, the government today faces formidable challenges in investigating nonhorizontal combinations, which are a big part of the latest merger wave. Consolidation will surely continue before we can determine whether it is benign. This reality would be of limited consequence if it were easy to undo combinations that prove harmful. However, as the Georgia case (and others, such as FTC v.

Evanston Northwestern Healthcare) illustrate, unwinding deals is exceedingly difficult in practice; in antitrust vernacular, these efforts are labeled “unscrambling the eggs.” Therefore, it would behoove health care analysts and policymakers who are concerned about consolidation to give enforcers more tools for doing their jobs and to develop other avenues for slowing the march toward conglomeration. Such efforts would provide much-needed time for assessing which organizational structures will yield the best return for our health care dollars and under what circumstances. A full discussion of possible initiatives is beyond the scope of this article, but three ideas are worth mentioning. First, angel investors and venture capitalists could help create innovative health care provider organizations that deliver clinically integrated, evidence-based care at the lowest possible cost without reducing competition. New funders would consider different organizational ideas and bring strategic and operational skills to their ventures, and they might be better positioned than local health care systems or physician groups to accept the associated risks. Second, Medicare could experiment with reimbursement schemes that provide incentives to newly forming accountable care organizations to pursue organizational structures that do not involve joint ownership of all assets. Joint ventures and contractual relationships would be easier to unwind than mergers, if that proved necessary.

Last, but certainly not least, we could urge private and public insurers to make detailed claims data readily available to public agencies and private researchers, as some insurers have begun to do through the Health Care Cost Institute. These data would enable researchers and enforcers to assess how the latest types of consolidations affect both costs and quality. We will need sunshine to illuminate the path forward. References • 1 A wave of hospital mergers.

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Former Lenovo logo, used from 2003 until 2015 In May 2015, Lenovo revealed a new logo at Lenovo Tech World in Beijing, with the slogan 'Innovation Never Stands Still' (: 创新无止境). Lenovo's new logo, created by Saatchi, New York, 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 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 will be sold in Hong Kong with coupon ranging from 4.95% to 5.05%. This 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 American dollars. Tianxi [ ] The Tianxi computer was 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 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.

Mergers, acquisitions, and partnerships [ ] Lenovo works to integrate the management of each newly acquired company into its larger culture. Lenovo has a dedicated mergers and acquisitions team that tracks the progress of these integrations. Lenovo has an annual meeting where the management of newly acquired companies meets with its top 100 executives. In these meetings, held in English, Lenovo explains its global strategy and how new executives fit into its plans. The ThinkPad logo, as shown on the ThinkPad x100e notebook computer Lenovo acquired 's personal computer business in 2005, including the laptop and tablet lines. Lenovo's acquisition of IBM's personal computer division accelerated access to foreign markets while improving both 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 the third-largest computer maker worldwide by volume. In regards to the purchase of IBM's personal computer division, said, 'We benefited in three ways from the IBM acquisition. We got the ThinkPad brand, IBM's more advanced PC manufacturing technology and 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.' IBM acquired an 18.9% shareholding in Lenovo in 2005 as part of Lenovo's purchase of IBM's personal computing division.

Since then, IBM has steadily reduced its holdings of Lenovo stock. In July 2008, IBM's interest in Lenovo fell below the 5% threshold that mandates public disclosure. IBM's Intel based server lines, including and were sold to Lenovo in 2014. Lenovo says it will gain access to more enterprise customers, improve its profit margins, and develop 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, China and the United States.

The United States Department of Treasury (CFIUS) was reportedly the last 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, and Canada.' After closing, Lenovo said that its goal 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. 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 's vision of the future around cloud technologies and their own POWER processor architecture. Mobile devices [ ]. The smartphone presented by models at launch Lenovo sold its smartphone and tablet division in 2008 for 100,000,000 in order to focus on personal computers and then paid 200,000,000 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 100,000,000 in a fund dedicated to providing seed funding for mobile application development for its LeGarden online.

As of 2010, LeGarden had more than 1,000 programs available for the LePhone. At the same time, LeGarden counted 2,774 individual developers and 542 developer companies as members. Lenovo entered the smartphone market in 2012 and quickly became the largest vendor of 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 and Lenovo's desire to increase its market share in mainland China.

Lenovo passed Apple to become the No. 2 provider of smartphones to the Chinese market in 2012. However, due to there being about 100 smartphone brands sold in China, this second 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, China. NEC [ ] On January 27, 2011, Lenovo formed a joint venture to produce personal computers with Japanese electronics firm. 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 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 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 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. Medion [ ] In June 2011, Lenovo announced that it planned to acquire control of, a German electronics manufacturing company.

Lenovo said the acquisition would double its share of the German computer market, making it the third-largest vendor by sales (after and ). The deal, which closed in the third quarter of the same year, was 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 percent stake in the company. He will be paid in cash for 80 percent of the shares and will receive 20 percent in Lenovo stock.

That would give him about one percent of Lenovo. CCE [ ] 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 300 million reals (US$148 million) in a combination of stock and cash. An additional payment of 400 million reals 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 the acquisition, Lenovo announced that its subsequent acquisitions would be concentrated in software and services. Stoneware [ ] 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 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. LenovoEMC [ ]. Main article: Lenovo and formed LenovoEMC as a joint venture to offer (NAS) solutions. LenovoEMC's products were formerly offered under the brand name. After the formation of LenovoEMC, Iomega ceased to exist as business unit. LenovoEMC's products are designed for small and medium-sized businesses that do not have the budgets for enterprise-class data storage. LenovoEMC is part of a broader partnership between the two companies announced in August 2012.

This partnership also includes an effort to develop x86-based servers and allowing Lenovo to act as an OEM for some EMC hardware. Lenovo is expected to benefit from the relatively high profit margins of the NAS market. LenovoEMC is part of Lenovo's Enterprise Products Group. Motorola Mobility [ ]. Motorola Moto X On 29 January 2014, Google announced it would sell to Lenovo for US$2.91 billion. When Google and Lenovo first announced the acquisition of Motorola, they said the purchase would be funded with $660 million in cash, $750 million in Lenovo stock, and a $1.5 billion promissory note due in three years.

As of February 2014, Google owns about 5.94% of Lenovo's stock. The deal includes smartphone lines like the and and the. Lenovo also got the future Motorola Mobility product roadmap. Google will retain the Advanced Technologies & Projects unit and all but 2,000 of the company's patents. Lenovo will receive royalty free licenses to all the patents retained by Google. Lenovo has stated that Motorola was purchased in large part due to its long-standing relationships with cellular network operators in the United States and the United Kingdom. Lenovo previously had difficulty breaking into the United Kingdom due to the high proportion of customers who sign contracts and receive phones from carriers.

A Lenovo executive said, 'There are lots of reasons why we bought Motorola but primarily because it has a history of distribution in the UK. Motorola has long and established relationships with routes to market in North America and the UK, where people are tied to their network operator.' Lenovo received approval from the European Union for its acquisition of Motorola in June 2014. In a statement the European Union said, 'The Commission concluded that the proposed acquisition would not raise competition concerns in relation to smart mobile devices (smartphones and tablets), given the limited market position of the parties and the presence of other strong suppliers in the market.'

At the time of the EU approval Lenovo said it was on track to win final approval of the merger in the United States. The acquisition was completed on 30 October 2014. Motorola Mobility will remain headquartered in Chicago, and continue to use the Motorola brand, but Liu Jun—president of Lenovo's mobile device business, became the company's chairman. DataCore [ ] In March 2017, Lenovo announced it was partnering with Fort Lauderdale, Florida-based software storage virtualization company to add DataCore's -processing software to Lenovo's storage devices. The servers were reportedly designed to outperform (SAN) SAN arrays.

Name [ ] 'Lenovo' is a of 'Le-' (from Legend) and 'novo', Latin ablative for 'new'. The Chinese name (: 联想;: 聯想;: ) means 'association' (as in 'word association') or 'connected thinking'. It can also imply creativity. Main article: The ThinkCentre is a line of business-oriented which was introduced in 2003 by IBM and since has been produced and sold by Lenovo since 2005. ThinkCentre computers typically include mid-range to high-end processors, options for discrete graphics cards, and multi-monitor support. Similar to the ThinkPad line of computers, there have been budget lines of ThinkCentre branded computers in the past.

Some examples of this include: M55e series, A50 series, M72 series. These 'budget' lines are typically 'thin clients' however. ThinkServer [ ].

Main article: The ThinkServer product line began with the TS100 from Lenovo. The server was developed under agreement with, by which Lenovo would produce single-socket and dual-socket servers based on IBM’s xSeries technology.

An additional feature of the server design was a support package aimed at small businesses. The focus of this support package was to provide small businesses with software tools to ease the process of server management and reduce dependence on IT support. In June 2017, Lenovo Business Development Executive Les Roach stated that, “We’re going to do a clean-slate redesign of our entire server portfolio. You’re going to see all new models, new form factors, some denser offerings, and new branding.

It won’t be System X or ThinkServer. It’ll have a new look and feel but keep the base-level engineering.” The merge is set for summer 2017. 555 ThinkStation [ ].

Main article: Lenovo ThinkStations are workstations designed for high-end computing. In 2008, Lenovo expanded the focus of its THINK brand to include workstations, with the ThinkStation S10 being the first model released. ThinkVision displays [ ] High-end monitors are marketed under the ThinkVision name. ThinkVision displays share a common design language with other THINK devices such as the line of notebook computers and desktops. At the 2014 International CES, Lenovo announced the ThinkVision Pro2840m, a 28-inch 4K display aimed at professionals.

Lenovo also announced another 28-inch 4K touch-enabled device running Android that can function as an all-in-one PC or an external display for other devices. At the 2016 International CES, Lenovo announced two displays with both USB-C and DisplayPort connectivity. The ThinkVision X24 Pro monitor is a 24-inch 1920 by 1080 pixel thin-bezel display that uses an IPS LCD panel. The ThinkVision X1 is a 27-inch 3840 by 2160 pixel thin-bezel display that uses a 10-bit panel with 99% coverage of the sRGB color gamut. The X24 includes a wireless charging base for mobile phones. The X1 is the first monitor to receive the TUV Eye-Comfort certification. Both monitors have HDMI 2.0 ports, support charging laptops, mobile phones, and other devices, and have Intel RealSense 3D cameras in order to support facial recognition.

Both displays have dual-array microphones and 3-watt stereo speakers. Main article: The IdeaPad line of consumer-oriented was introduced in January 2008.

The IdeaPad is the result of Lenovo's own research and development; Unlike the ThinkPad line, its design and branding were not inherited from IBM. The IdeaPad's design language differs markedly from the and has a more consumer-focused look and feel. In October 2012, Lenovo released the, a laptop running Microsoft Windows 8 that can be converted to a tablet by flipping the screen all the way backwards. Lenovo has subsequently released the IdeaPad Yoga 11 running Windows RT and announced the IdeaPad Yoga 11S running Windows 8. Lenovo's Yoga products reflect the company's commitment to the 'PC plus era' where innovative products allow Lenovo to resist commodity pricing of PCs.

In November 2013, Lenovo introduced the, an Ultrabook-class convertible device that can be used as both a tablet and laptop computer. The Yoga 2 Pro is thinner than the and has tapered edges giving it an appearance more like a conventional ultrabook laptop vs the earlier model's pleasing 'book-like' symmetrical design. At 1.39 kilograms, the Yoga 2 Pro is significantly lighter than the Yoga 13. The Yoga 2 Pro has a subtle rubber trim around the edge of its top half in order to prevent slipping on hard surfaces when in tent mode. The new design is easier to pick up and hold than Lenovo's previous generation of Yoga devices. The Yoga 2 Pro comes with a backlit keyboard. Unlike earlier Yoga products, the home button is now a touch-key on the bottom center of the display.

Lenovo moved the power button away from the front and to the side in order to prevent accidental key presses. In October 2014, Lenovo introduced the Yoga 3 Pro, an ultra-thin Broadwell-based 13.3-inch touchscreen laptop with a hinge that allows for use as a tablet and other configurations. It uses Intel Core M processors and comes standard with solid-state drives.

Its screen has 3200 pixel by 1800 pixel resolution and is multitouch capable. It is 13 millimeters thick.

The Yoga 3 Pro's hinge differs significantly from the Yoga 2 Pro. The new all-metal hinge is referred to by Lenovo as a 'watchband.' It is much less bulky and forms a continuous curved shape from the chassis of the laptop to the bottom of the screen. It has six mounting points as opposed to two for a more solid feel and structural strength. On September 21, 2016, Lenovo confirmed that their Yoga series is not meant to be compatible with operating systems, that they know it is impossible to install Linux on some models, and that it is not supported.

This came in the wake of media coverage of problems that users were having while trying to install on several Yoga models, including the 900 ISK2, 900 ISK For Business, 900S, and 710, which were traced back to Lenovo disabling and removing support for the storage mode for the device's in the computer's, in favor of a mode that is only supported by that come with the system. IdeaCentre [ ].

Main article: All IdeaCentres are all-in-one machines, combining processor and monitor into a single unit. The desktops were described by HotHardware as being 'uniquely designed'. The first, the IdeaCentre K210, was announced by Lenovo on 30 June 2008. While the IdeaCentre line consists only of desktops, it shares design elements and features with the line.

One such feature was Veriface facial recognition technology. At 2011, Lenovo announced the launch of four IdeaCentre desktops: the A320, B520, B320, and C205. In the autumn of 2012, the firm introduced the more powerful IdeaCentre A720, with a 27-inch touchscreen display and running Windows 8. With a TV tuner and HDMI in, the A720 can also serve as a multimedia hub or home theater PC. In 2013, Lenovo added a table computer to the IdeaCentre line. The, introduced at the 2013 is a 27-inch touchscreen computer designed to lay flat for simultaneous use by multiple people. Thanks to its use of Windows 8, the Horizon can also serve as a desktop computer when set upright.

Legion [ ] Lenovo saw the need to create a market that would satisfy the gamer community with very high performance laptops but at a cheaper cost compared to other brands. At first it was speculated that Lenovo would ally with the firm, but then it was learned that the Chinese firm had decided that this path could be done alone, simply that you had to create a parallel brand called Legion. The type of product offered by Lenovo with its Legion brand are very attractive, high-performance and low-cost computers. Smartphones [ ]. Main article: As of January 2013, Lenovo only manufactured phones that use the operating system from. Numerous press reports indicated that Lenovo planned to release a phone running, According to J. D. Howard, a vice president at Lenovo's mobile division, the company would release a Windows Phone product if there is market demand.

Lenovo has implemented an aggressive strategy to replace as Mainland China market's top smartphone vendor. It has spent $793.5 million in Wuhan in order to build a plant that can produce 30 to 40 million phones per year. Data from Analysys International shows that Lenovo experienced considerable growth in smartphone sales in China during 2012.

Specifically, it saw its market share increase to 14.2% during 2012's third quarter, representing an increase when compared to 4.8% in the same quarter of 2011. IDC analysts said that Lenovo's success is due to its 'aggressive ramping-up and improvements in channel partnerships.' Analysys International analyst Wang Ying wrote, 'Lenovo possesses an obvious advantage over rivals in terms of sales channels.' The company's CEO, Yang Yuanqing, said, 'Lenovo does not want to be the second player.

We want to be the best. Lenovo has the confidence to outperform Samsung and Apple, at least in the Chinese market.' According to IHS iSuppli, Lenovo was a top-three smartphone maker in China with a 16.5% market share in the first quarter of 2012. According to a May report released by IDC Lenovo ranks fourth in the global tablet market by volume. As of November 2012, Lenovo was the second largest seller of mobile phones in China when measured by volume. Lenovo's Lenovo P2 has been nominated by RuangLaptop as a smartphone with the best battery life as of March 2017. In May 2013, Lenovo CEO Yang Yuanqing indicated that the company had aimed to release smartphones in the United States within the next year.

Later in October, Lenovo expressed interest in acquiring the Canadian smartphone maker. However, its attempt was reportedly blocked by the, citing security concerns due to the use of BlackBerry devices by prominent members of the government. An official stated that 'we have been pretty consistent that the message is Canada is open to foreign investment and investment from China in particular but not at the cost of compromising national security'.

In January 2014, Lenovo announced a proposed deal to acquire to bolster its plans for the U.S. Officially announced that Lenovo had become the hardware partner of platform at the 2014. In January 2016, Lenovo announced at CES that the company would be producing the first phone. Lenovo plus Motorola was the 3rd largest producer of smartphones by volume in the world between 2011 and 2014. Since Lenovo's acquisition of Motorola Mobility, the combined global market share of Lenovo plus Motorola has fallen from 7.2% in 2014 to 3.9% in the third quarter of 2016. A number of factors have been cited as the cause of this reduced demand, including the fact that Lenovo relied heavily on carriers to sell its phones, its phones lacked strong branding and unique features to distinguish them in the competitive Chinese market where a weak economy and saturated market is slowing demand and the culture clash between a more hierarchical PC company and the need to be nimble to sell rapidly-evolving smartphones. In response to the weak sales, Lenovo announced in August 2015 that it would lay off 3,200 employees, mostly in its Motorola smartphone business.

In the reorganization which followed, Lenovo was uncertain how to brand its Motorola smartphones. In November 2015, members of Lenovo management made statements that Lenovo would use the Motorola brand for all its smartphones. Then, in January 2016, Lenovo announced that it would be eliminating the Motorola brand in favor of 'Moto by Lenovo'. The company reversed course in March 2017 and announced that the Motorola brand name would be used in all regions in future products. 'In 2016, we just finished transforming ourselves,' Motorola Chairman and President Aymar de Lencquesaing said in an interview, 'We have clarity on how we present ourselves.' Smart televisions [ ].

Main article: In November 2011, Lenovo said it would soon unveil a product called LeTV, expected for release in the first quarter of 2012. 'The PC, communications and TV industries are currently undergoing a 'smart' transformation. In the future, users will have many smart devices and will desire an integrated experience of hardware, software and cloud services.' Liu Jun, president of Lenovo's mobile-Internet and digital-home-business division. In June 2013 Lenovo announced a partnership with Sharp to produce smart televisions. In March 2014, Lenovo announced that it projected smart television sales surpassing one million units for 2014. The same month Lenovo released its flagship S9 featuring the fastest CPU of any smart television.

Wearables [ ]. The Lenovo Smartwatch on display at the 2015 Mobile World Congress Rumors that Lenovo was developing a wearable device were confirmed in October 2014 after the company submitted a regulatory finding to the. The device, branded a 'Smartband,' has a battery life of seven days. It has an optical heart-rate monitor and can be used to track distance and time spent running and calories burned. It can also notify the user of incoming calls and texts. It can also unlock computers without the use of a password.

The Smartband went on sale in October 2014. Lenovo started offering the device for sale on its website without a formal product announcement. DOit apps [ ] REACHit [ ] REACHit is a storage management application. It is designed to help users access, organize, and search files across multiple devices and operating systems. It connects Windows personal computers, Android devices, and iOS devices and works with,,, and Box.

On Windows devices, REACHit is integrated with Windows File Explorer. Lenovo began bundling REACHit with all its computers and tablets in early 2015. Through a partnership with Microsoft, REACHit is fully integrated with Cortana in Windows 10, a voice-based integrated assistant. REACHit extends the search capabilities of Cortana, giving it access to a much wider range of files, including those stored in Google Drive, Dropbox, and Microsoft's own OneDrive as described above, in addition to implementing searches across multiple devices and making them context sensitive. REACHit was discontinued and shut down on September 12, 2016.

SHAREit [ ] SHAREit is a free application from Lenovo that allows Windows, Windows Phone, Android, and iOS devices to transfer files directly by ad-hoc Wi-Fi connections. WRITEit [ ] In April 2015, Lenovo released WRITEit, a hand-writing recognition engine that interprets input from a stylus and turns it into text. WRITEit works with almost all applications and online forms that accept text input. SECUREit [ ] SECUREit protects mobile devices against viruses, unauthorized access, and spam. It includes an anti-theft system that locks the device when someone tries to change the SIM card, making the phone unusable without a password.

SECUREit encrypts call records and contacts. It also speeds up devices by ensuring that duplicate background processes do not run and keeping the cache clean. SYNCit [ ] SYNCit backs up call logs and contact information.

SYNCit works on non-Lenovo devices such as Android smartphones. SNAPit Camera [ ] The SNAPit Camera app controls cameras on phones and tablets. It allows shooting panoramas, low-light scenes, photo editing, and creating animated GIFs.

SEEit Gallery [ ] The SEEit Gallery app is designed to complement the SNAPit Camera app. It uses image recognition software to automatically sort photos into folder. This app also lets users edit photos with filters and effects. Lenovo Connect [ ] At the Mobile World Congress in 2016 Lenovo introduced Lenovo Connect, a wireless roaming service. This service works across devices, networks, and international borders in China, Europe, the Middle East, and Africa. Lenovo Connect eliminates the need to buy new SIM cards when crossing borders.

Lenovo Connect started service for phones and select ThinkPad laptops in China in February 2016. Operations [ ] Lenovo's principal facilities are in, and, with research centers in Beijing, Morrisville,,,,,, and in China, and, Japan. Lenovo operates factories in and in,, and as of December 2011 has plans to start production in. A 700-square-metre (7,500 sq ft) opened in Beijing in February 2013. The Lenovo R&D centre in, Lenovo's manufacturing operations are a departure from the usual industry practice of outsourcing to contract manufacturers. Lenovo instead focuses on in order to avoid excessive reliance on and to keep down costs. Speaking on this topic, Yang Yuanqing said, 'Selling PCs is like selling fresh fruit.

The speed of innovation is very fast, so you must know how to keep up with the pace, control inventory, to match supply with demand and handle very fast turnover.' Lenovo benefited from its vertical integration after flooding affected hard-drive manufacturers in Thailand in 2011, as the company could continue manufacturing operations by shifting production towards products for which hard drives were still available.

Lenovo began to emphasize vertical integration after a meeting in 2009 in which CEO Yang Yuanqing, and the head of Lenovo's supply chain, analyzed the costs versus the benefits of in-house manufacturing, and decided to make at least 50% of Lenovo's manufacturing in-house. Lenovo Chief Technology Officer George He said that vertical integration is having an important role in product development. He stated, 'If you look at the industry trends, most innovations for' PCs, smartphones, tablets and smart TVs are related to innovation of key components—display, battery and storage. Differentiation of key parts is so important. So we started investing more.and working very closely with key parts suppliers.' Previously, lack of integration due to numerous foreign acquisitions and an excessive number of 'key performance indicators' (KPIs) was making Lenovo's expansion expensive and creating unacceptably slow delivery times to end-customers. Lenovo responded by reducing the number of KPIs from 150 to 5, offering intensive training to managers, and working to create a global Lenovo culture.

Lenovo also doubled-down on vertical integration and manufacturing near target markets in order to cut costs at time when its competitors were making increased use of outsourcing off-shoring. By 2013, Lenovo ranked 20th on Gartner's list of top 50 supply chains, whereas in 2010 the company was unranked. In 2012, Lenovo partially moved production of its ThinkPad line of computers to Japan.

ThinkPads will be produced by NEC in. Akaemi Watanabe, president of Lenovo Japan, said, 'As a Japanese, I am glad to see the return to domestic production and the goal is to realize full-scale production as this will improve our image and make the products more acceptable to Japanese customers.' In October 2012, Lenovo announced that it would start assembling computers in,. Production of desktop and laptop computers, including the began in January 2013. As of July 2013, 115 workers were employed at this facility. Lenovo has been in Whitsett since 2008, where it also has centers for logistics, customer service, and return processing.

In 2015, Lenovo and Hong Kong Management Company Limited, a government-sponsored business park for technology firms, reached a deal to 'jointly build a cloud service and product research and development center.' Lenovo’s Asia Pacific data center will also be housed in Cyperport. Lenovo assembles smartphones in Chennai, India through a contract manufacturing agreement with. In November 2015, Lenovo announced that it would start manufacturing computers in Pondicherry. Corporate affairs [ ]. Taikoo Place The company executive headquarters are in, near in the metropolitan area, in the United States. As of October 2012, the facility has about 2,000 employees.

Lenovo identifies its facilities in Morrisville, Beijing, and Singapore as its 'key location addresses,' where its principal operations occur. The company stated that 'by foregoing a traditional headquarters model and focusing on centers of excellence around the world, Lenovo makes the maximum use of its resources to create the best products in the most efficient and effective way possible.'

The company is on the 23rd floor of the Lincoln House building of the in,. Previously the company's U.S. Headquarters were in,. About 70 people worked there. In 2006, Lenovo announced that it was consolidating its U.S. Headquarters, a logistics facility in, and a call center in to a new facility in Morrisville.

The company received offers of over $11 million in incentive funds from the local Morrisville, NC area and from the State of North Carolina on the condition that the company employs about 2,200 people. In early 2016, Lenovo carried out a comprehensive restructuring of its business units. Financials and market share [ ] Lenovo was the world's largest supplier of personal computers in 2016, shipping an estimated 55.5 million PCs, for an estimated 21.3% market share, according to market research firm. For the fiscal year ending March 2016, the company reported revenue of USD$44.9 billion. The company's expansion was boosted in part by a joint venture with in called Lenovo NEC Holdings, and aggressive marketing to both professionals and consumers. [ ] From 4 March 2013, Lenovo was included as a constituent stock in the. Lenovo replaced the unprofitable, a state-owned enterprise, on the list of 50 key companies on the Hong Kong stock exchange that constitute the Hang Seng Index.

The inclusion of Lenovo and Tencent, China's largest internet firm, significantly increased the weight of the technology sector on the index. Being added to the Hang Seng Index was a significant boon for Lenovo and its shareholders as it widened the pool of investors willing to purchase Lenovo's stock. For instance, index funds pegged to the Hang Seng and pension funds that consider index inclusion now have the opportunity to invest in Lenovo. On November 2013 it was reported that Lenovo achieved double-digit market share in the United States for the first time.

Ownership [ ] As of 1 October 2011, 58% of Lenovo stock was held by the general public, 34% by, and 8% by other entities. The owns 36% of Legend Holdings. On 4 September 2009,, a private based in Beijing, bought 29% of Legend Holdings, the parent company of Lenovo, for 2.76 billion yuan. Responding to claims that Lenovo is a CEO Yang Yuanqing said: 'Our company is a 100% market oriented company. Some people have said we are a state-owned enterprise.

It's 100% not true. In 1984 the Chinese Academy of Sciences only invested $25,000 in our company.

The purpose of the Chinese Academy of Sciences to invest in this company was that they wanted to commercialize their research results. The Chinese Academy of Sciences is a pure research entity in China, owned by the government. From this point, you could say we're different from state-owned enterprises. Secondly, after this investment, this company is run totally by the founders and management team. The government has never been involved in our daily operation, in important decisions, strategic direction, nomination of the CEO and top executives and financial management. Everything is done by our management team.' In early 2006, the U.S.

State Department was harshly criticized for purchasing 16,000 computers from Lenovo. Critics attempted to smear Lenovo as controlled by the Chinese government and a potential vehicle for espionage against the United States. Yang spoke out forcefully and publicly to defend Lenovo. He said, 'We are not a government-controlled company.' He pointed out that Lenovo pioneered China's transition to a market economy and that in the early 1990s had fought and beaten four state-owned enterprises that dominated the Chinese computer market. Those firms had the full backing of the state while Lenovo received no special treatment.

The State Department deal went through. Yang worried that fears about Lenovo's supposed connections to the Chinese government would be an ongoing issue in the United States. Yang worked to ease worries by communicating directly with Congress.

In June 2006, Yang arranged to be seated next to, a member of the congressional committee that had earlier raised concerns about the security of Lenovo's products. D'Amato later stated that he was impressed with Yang's candor.

[ ] Yang dramatically increased his ownership stake in by acquiring 797 million shares in 2011. As of June 2011, Yang owned an 8 percent stake in Lenovo. He previously owned only 70 million shares. In a statement, Yang said, 'While the transaction is a personal financial matter, I want to be very clear that my decision to make this investment is based on my strong belief in the company's very bright future.

Our culture is built on commitment and ownership – we do what we say, and we own what we do. My decision to increase my holdings represents my steadfast belief in these principles.' Corporate culture [ ] Lenovo's corporate culture differs from other Chinese companies.

While Lenovo was founded using seed capital from the state-owned, Lenovo is run as a private enterprise with little or no interference by the state. Lenovo's senior executives, including many non-Chinese, rotate between two head offices, one in Beijing and the other in Morrisville, North Carolina, and Lenovo's research and development center in Japan. Two foreigners have previously served as Lenovo's CEO. English is Lenovo's official language. Lenovo's CEO, Yang Yuanqing, initially did not understand English well, but relocated his family to Morrisville in order to improve his language skills and learn American ways.

One American Lenovo executive interviewed by The Economist praised Yang for his efforts to make Lenovo a friendly place for foreigners to work. He said that Yang had created a 'performance culture' in place of the traditional Chinese work style of 'waiting to see what the emperor wants.' Leadership [ ] Yang Yuanqing [ ]. Main article: Yang Yuanqing is the chairman and chief executive officer of Lenovo. One of his major achievements was leading Lenovo to become the best-selling personal computer brand in China since 1997. In 2001, named him one of Asia's rising stars in business. Yang was president and CEO of Lenovo until 2004, when Lenovo closed its acquisition of IBM's PC division, afterward Yang was succeeded as Lenovo CEO by IBM's Ward was succeeded by on 20 December 2005.

On February 2009, Yang replaced Amelio as CEO and has served in that capacity ever since. Yang was chairman of Lenovo's board from 2004 to 2008, and returned as chairman in 2012 alongside his role as CEO. In 2012, Yang received a $3 million bonus as a reward for record profits, which he in turn redistributed to about 10,000 of Lenovo's employees. According to Lenovo spokesman, Jeffrey Shafer, Yang felt that it would be the right thing to, 'redirect [the money] to the employees as a real tangible gesture for what they done.'

Shafer also said that Yang, who owns about eight percent of Lenovo's stock, 'felt that he was rewarded well simply as the owner of the company.' The bonuses were mostly distributed among staff working in positions such as production and reception who received an average of 2,000 yuan or about US$314. This was almost equivalent to a monthly salary of an average worker in China. Yang made a similar gift of $3.25 million again in 2013. According to Lenovo's annual report, Yang earned $14 million, including $5.2 million in bonuses, during the fiscal year that ended in March 2012.

In 2013, Barron's named Yang one of the 'World's Best CEOs.' Liu Chuanzhi [ ]. Main article: Liu Chuanzhi is the founder and chairman of Lenovo. Liu was trained as an engineer at a military college and later went on to work at the.

Like many young people during the Cultural Revolution, Liu was denounced and sent to the countryside where he worked as a laborer on a rice farm. Liu claims as a key source of inspiration. In an interview with he stated that 'Our earliest and best teacher was Hewlett-Packard.' For more than ten years, Lenovo was Hewlett-Packard's distributor in China.

In reference to Lenovo's later acquisition of IBM's personal computer unit Liu said, 'I remember the first time I took part in a meeting of IBM agents. I was wearing an old business suit of my father's and I sat in the back row. Even in my dreams, I never imagined that one day we could buy the IBM PC business. Download Aplikasi Stok Gudang Excel Gratis. It was unthinkable. Board of directors [ ] In early 2013, Lenovo announced the addition of Yahoo founder to its board. Lenovo's CEO Yang Yuanqing said, 'Jerry’s appointment as an observer to our board furthers Lenovo’s reputation as a transparent international company.' Just prior to the appointment of Jerry Yang, Tudor Brown, the founder of British semiconductor design firm, was also appointed to Lenovo's board.

Speaking of both men Yang Yuanqing said, 'We believe that they will add a great deal to our strategic thinking, long-term direction and, ultimately, our ability to achieve our aspirations in the PC plus era.' Marketing and sponsorships [ ] Emerging markets [ ] In 2009, Lenovo became the first personal computer manufacturer to divide countries into emerging markets and mature markets. Lenovo then developed a different set of strategies for each category. Lenovo's competitors have widely adopted the same approach In 2012, Lenovo made a major effort to expand its market share in developing economies such as Brazil and India through acquisitions and increased budgets for marketing and advertising.

While Lenovo has not revealed its total spending on marketing, it did increase marketing and advertising expenditures by $248 million in the fiscal year ending in 2012. A Lenovo Store in China In China, Lenovo has a vast distribution network designed to make sure that there is at least one shop selling Lenovo computers within 50 kilometers of nearly all consumers. Lenovo has also developed close relationships with its Chinese distributors, who are granted exclusive territories and only carry Lenovo products.

As of July 2013, Lenovo believes that urbanization initiatives being pushed by Premier will allow it to sustain sales growth in China for the foreseeable future. Speaking at Lenovo's annual general meeting in Hong Kong in 2013, Yang Yuanqing said: 'I believe urbanisation will help us further increase the overall [domestic] PC market.' Yang also stressed the opportunity presented by the China's relatively low penetration rate of personal computers. Lenovo previously benefited from the Chinese government’s rural subsidies, part of a wider economic stimulus initiative, designed to increase purchases of appliances and electronics. That program, which Lenovo joined in 2004, ended in 2011. Lenovo enjoys consistent price premiums over its traditional competitors in rural markets and a stronger local sales and service presence.

India [ ] Lenovo has gained significant market share in India through bulk orders to large companies and government agencies. For example, the government of ordered a million laptops from Lenovo in 2012 and single-handedly made the firm a market leader. Lenovo distributes most of the personal computers it sells in India through five national distributors such as and Redington. Given that most smartphones and tablets are sold to individuals Lenovo is pursuing a different strategy making use of many small state-centric distributors. Amar Babu, Lenovo's managing director for India, said, 'To reach out to small towns and the hinterland, we have tied up with 40 regional distributors.

We want our distributors to be exclusive to us. We will, in turn, ensure they have exclusive rights to distribute Lenovo products in their catchment area.'

As of 2013, Lenovo had about 6,000 retailers selling smartphones and tablets in India. In February 2013, Lenovo established a relationship with Reliance Communications to sell smartphones. The smartphones carried by Reliance have dual-SIM capability and support both GSM and CDMA. Babu claims that the relative under penetration of smartphones in India represents an opportunity for Lenovo.

Lenovo has assembled a team of senior managers familiar with the Indian market, launched mobile phones at all price points there, and worked on branding to build market share. As of February 2014, Lenovo claims that its sales of smartphones in India have been increasing 100% per quarter while the market is only growing 15-20% over the same period. Lenovo did marketing tests of its smartphones in November 2012 in and some southern cities, where Lenovo already had a strong presence. Lenovo's strategy has been to create awareness, maintain a broad selection of phones at all price points, and develop distribution networks. Lenovo partnered with two national distributors and over 100 local distributors. As of February 2014, more than 7,000 retail outlets in India sold Lenovo smartphones. Lenovo has also partnered with HCL in order to set up 250 service centres in 110 cities.

In India, Lenovo grants distributors exclusive territories but allows them to sell computers from other companies. Lenovo uses its close relationships with distributors to gain market intelligence and speed up product development. Lenovo reported a year-on-year increase of about 951% in tablet sales in India for the first quarter of 2014.

Canalys, a market research firm, said Lenovo took market share away from Apple and Samsung in the country. Africa [ ] Lenovo first started doing business in, establishing a sales office, and then expanded to East African markets such as Kenya, Tanzania, Ethiopia, Uganda, and Rwanda.

West Africa followed when Lenovo set-up a Nigerian legal office and then expanded to Ghana, Zimbabwe, Mozambique and Botswana. According to Lenovo’s general manager for Africa, Graham Braum, Lenovo’s strategy is to put 'great emphasis on products that sell well in Africa' and roll out 'products alongside different African governments' rolling out of wireless technology.' Products such as the Lenovo Yoga series are popular in Africa because of their long battery life, as many areas have unreliable electrical supply.

Other popular products include the Lenovo notebooks, which were introduced in 2008. Lenovo picked Nigeria in 2013 to release its smartphone because unlike South Africa and other African countries, there is no requirement to partner with a local telecom firm to sell its phones.

In the long term, according to Braum, 'Lenovo in Africa will focus on continuing to consistently supply personal computer products and allow this market to grow, while moving into new territory such as mobile and enterprise.' United States [ ] In the United States, Lenovo began the 'For Those Who Do' marketing campaign in 2010, created by the ad agency. The campaign was Lenovo's first to go global, except for its domestic market in China, where it retained its existing 'Imagine' (: lian xiang) slogan. The campaign did not reach China because 'do' carries connotations of manual labor in the country, an image that Lenovo did not want attached to their brand. 'For Those Who Do' was designed to appeal to young consumers in the 18- to 25-year-old demographic by stressing its utility to creative individuals that Lenovo's advertising refers to as 'doers'. One of Lenovo's operational centers is located in North Carolina, United States.

Lenovo also started manufacturing products in the USA in 2012. Ashton Kutcher [ ]. Main article: In October 2013, Lenovo announced that it had hired Ashton Kutcher as a product engineer and spokesman. Kutcher announced Lenovo's Yoga Tablet at a media event the same month; he flew to China to meet with Lenovo executives shortly thereafter. David Roman, Lenovo's chief marketing officer, said, 'His partnership goes beyond traditional bounds by deeply integrating him into our organization as a product engineer. Ashton will help us break new ground by challenging assumptions, bringing a new perspective and contributing his technical expertise to Yoga Tablet and other devices.' Kutcher co-founded, an investor in,,,,, and other technology firms.

Kutcher studied at the. Kobe Bryant [ ]. Main article: On December 2011, Lenovo announced the YouTube Space Lab contest. It was held in conjunction with,, the, and. The contest allowed students between the ages of 14 and 18 the chance to devise experiments to be performed by astronauts on the. The global winners had their experiment results live-streamed from space, and received a trip to either Japan or Russia.

NFL [ ] In July 2012, Lenovo and the (NFL) announced that Lenovo had become the NFL's 'Official Laptop, Desktop and Workstation Sponsor.' Lenovo said that this was its largest sponsorship deal ever in the United States. Lenovo will receive advertising space in NFL venues and events and be allowed to use the NFL logo on its products and ads. Lenovo said that this sponsorship would boost its efforts to market to the key 18- to 35-year-old male demographic. The NFL has been a Lenovo customer since 2007 and the sponsorship resulted from that relationship. NFL stars,, and were on hand for the announcement and a celebration with 1,500 Lenovo employees. Lenovo's sponsorship will last at least three years.

The Pursuit [ ] Lenovo used a short-film entitled The Pursuit in its 'For Those Who Do' campaign launched in 2011. The film depicted a mysterious young woman using the IdeaPad Yoga 13 to stay one-step-ahead of her evil pursuers., who previously worked on action movies and James Bond films such as GoldenEye and the remake of Casino Royale, shot this film. Lenovo was the first Chinese company to make use of such marketing techniques. Tech World [ ] In May 2015, Lenovo hosted its first ever 'Tech World' conference in Beijing. The CEOs of,, and delivered keynote addresses along with Lenovo CEO Yang Yuanqing. Lenovo also used Tech World to announce a refresh of its corporate logo and visual identity. The shift in Lenovo's visual presentation was accompanied by changes in Lenovo's business model.

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