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It also has a joint venture with NEC, Lenovo NEC Holdings, which produces personal computers for the Japanese market.Lenovo was founded in Beijing in November 1984 as Legend and was incorporated in Hong Kong in 1988.Eleven people, the entirety of the initial staff, attended.Each of the founders was a middle-aged member of the Institute of Computing Technology attached to the Chinese Academy of Sciences.The Chinese government approved Lenovo's incorporation on the same day.Jiǎ Xùfú (贾续福), one of the founders of Lenovo, indicates the first meeting in preparation for starting the company was held on 17 October of the same year.Lenovo has operations in more than 60 countries and sells its products in around 160 countries.Lenovo's principal facilities are in Beijing and Morrisville, with research centers in Beijing, Shanghai, Shenzhen, Xiamen, Chengdu, Nanjing, and Wuhan in China, Yamato in Kanagawa Prefecture, Japan and Morrisville in the U. It operates a joint venture with EMC called Lenovo EMC, which sells network-attached storage solutions.
"We were mainly scientists and didn't understand the market," Liu said.
Lenovo acquired IBM's personal computer business in 2005 and agreed to acquire its Intel-based server business in 2014.
Lenovo entered the smartphone market in 2012 and as of 2014 was the largest vendor of smartphones in Mainland China.
Lenovo became publicly traded after a 1994 Hong Kong listing that raised nearly US million.
Prior to its IPO, many analysts were optimistic about Lenovo.