Feb 7, 2009

Tech - Lenovo to refocus on Chinese market

Now that the leadership of Lenovo is back in the hands of Chinese executives, the PC maker says it plans to pay more attention to its home market of China and other emerging markets, according to a report in The Wall Street Journal.
It cut ties with its American CEO Bill Amelio earlier this week after a dreadful financial quarter in which the company lost $97 million. Chairman Yan Yuanqing has taken over as chief executive and company co-founder Liu Chuanzhi is returning to become chairman of the board.
Liu blames the company's current woes on the worldwide financial crisis and Lenovo's heavy investment in the commercial computing space with long lists of corporate customers. Though the company has made huge strides to become the fourth-largest PC maker by volume in the world, its presence in the consumer market outside China has been minimal until recently. A year ago the company introduced a line of consumer laptops and desktops, and more recently, a Netbook.
Now Lenovo will renew its focus in its home market and emerging markets to include individual and smaller businesses customers, Liu told the Journal.
The company will remain an international company and plans to keep its dual headquarters in Beijing and Morrisville, N.C., according to Liu. But what's unclear is what this means for the company's nascent consumer business.