Lenovo’s Outlook Brightens on Chinese Sales Boom

Lenovo (PINK:LNVGY) continues to gain steam as a major competitor in the PC market as it now claims 30% of the booming Chinese market. The company bought IBM’s (NYSE:IBM) PC assets in 2005, and has been working on enhancing their product ever since.

Lenovo is also moving forward with development of a new PC spinoff. Dell (NASDAQ:DELL) and Hewlett-Packard (NYSE:HPQ) are two companies feeling the negative effects of Lenovo’s success.

“Two recent key personnel snags for Lenovo include Gianfranco Lanci, former CEO of Acer and the man responsible for building up Acer’s massive position in Europe, and — just yesterday — Nobuyuki Idei, former CEO of Sony (NYSE:SNE). Since the merger of Lenovo and IBM PC, the company has striven to blend the two into a single culture.  Although this task has proven difficult, Lenovo has clearly found a modus vivendi. These two hires demonstrate that the company is thinking internationally and not just viewing the world through a Chinese — or even an American — lens,” states Forbes.