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Beijing, China, and Morrisville, North Carolina, United States. Lenovo has operations in more than 60 countries and sells its products in around 160 countries. Lenovo was founded in Beijing in November 1984 as Legend and was incorporated in Hong Kong in 1988. Lenovo entered the smartphone market in 2012 and as of 2014 was the largest vendor of smartphones in Mainland China. Lenovo is listed on the Hong Kong Stock Exchange and is a constituent of the Hang Seng China-Affiliated Corporations Index, often referred to as “Red Chips”. Liu Chuanzhi founded Lenovo on 1 November 1984 with a group of ten engineers in Beijing with 200,000 yuan.
The Chinese government approved Lenovo’s incorporation on the same day. Lenovo, indicates the first meeting in preparation for starting the company was held on 17 October of the same year. Eleven people, the entirety of the initial staff, attended. Their first significant effort, an attempt to import televisions, failed.
The group rebuilt itself within a year by conducting quality checks on computers for new buyers. Lenovo soon started developing a circuit board that would allow IBM-compatible personal computers to process Chinese characters. This product was Lenovo’s first major success. Lenovo also tried and failed to market a digital watch. Liu said, “Our management team often differed on which commercial road to travel. In May 1988, Lenovo placed its first recruitment advertisement. The ad was placed on the front page of the China Youth News.