The Lenovo is making great strides in internationalization as a troubled look seems incredible?. Some people say: you see the current development and growth of the Association, is the most powerful fighting them.
Indeed, in the system at that time, Lenovo will subordinate CAs from a small company growth to today's size, to some extent that is China's national industry banner, but incredible is that about Lenovo's dispute this road is called "detail" of small problems have been reported.
Some people say that, in theory, the Association was in the "trade and integration" at the same time, and without prejudice to the arrangements for a party long-term tracking the world's most advanced technology, the industry's survival affirmed.
But there is no association.
But Lenovo even doing this and what the Chinese technology has been in the industry of downstream. This is a fact.
The facts seem to be only one way.
Westerners believe in this logic: when a matter is only one solution, so it must be the worst and most failed.
Thus, Lenovo will follow this path to today.
On the IBM PC's mergers and acquisitions, is on the fence in the strategy of "legend" predicament and competitive pressures "desperate" or words of a "gambling"?
Who can deny that Lenovo's success, but it is more concerned about the successful stop premature decay.
"Lenovo" thought too much history and reality of lead-time Dong Chul/text
Subsequent information indicates that the establishment of the Hong Kong Association does not appear to be simply interpreted as Lenovo Group to improve the ability of the "supply chain management" and the necessary measures, but more like a future capital and interest of the transfer platform and tools.
Lenovo acquired IBM PC Division, which is China's IT industry. It is said that this will be China enterprise internationalization, "going out" another milestone; some also say that this is already into strategic dilemma "fence" Association "in the" strategic setback after an attempt of direction; what is more sharp pointed out that perhaps it was just as listed companies Association meet the capital needs of the market and selling point of the story of a gamble.
Internationalization, critic and Lenovo's the last straw?
The first ten years: "craft-trade"
According to Mr. later on that year critic of associative memory of pioneering history, in his 40-year-old is walking on the road of entrepreneurship, is because "suffocation", "we cannot at this age, University graduates are catching up with the cultural revolution, and have the energy does not know what to do, what they do, the heart is atrocious. "" Suddenly to a chance to really want to do something. ”
This suddenly to the era of opportunity is 1984, China's economic reform has shifted from rural, Zhongguancun, Office of the city has a number of companies, the Chinese Academy of Sciences also someone out of the Office of the company, or to work, the acceptance of the machine. At the time of the inspection day machine is three, $ 40 income at a time when computing the one-month bonus is 30 yuan, the calculation of the impact is very large.
The then Director of MOH Chao find LIU Chuanzhi, want to do a calculation of the own company, the accumulation of points money paid to the RI, address the practical difficulties in, perhaps good to break a "technology into productive" road. This is November 1984, and later by the Lenovo Group initial matrix "clinching the new technology development company". Calculation of the investment of RMB 20 million Yuan, Wang and was the President, Vice General Manager LIU Chuanzhi, also from the band out of 11 individuals.
Then IT industry background, early 1980s, microcomputer technology has just introduced to China, but no kanji processing power, value and market reach. To resolve this problem, many computer workers are to deal with all kinds of Chinese character development, Chinese character input, display, print, fonts and other software and hardware technology has introduced.
Where NI Guangnan associative-Hon-card (LX-PC) of breaking the peace. In the calculation of the company was founded one month later, NI Guangnan as 12 people were invited into the company. NI Guangnan become the company's technology leader, he invented the legend Han-card into the company's first unmatchable product, Lenovo also in the future as the company's formal name (in 1989, the company changed to Lenovo Group).
Lenovo-card IP to calculate the company contribution in the first decade is gigantic and irreplaceable. The earliest Lenovo hanka cost $ 2000, and the selling price could reach $ 400, that is, a Chinese card is 100% of the gross profit margin. and first production and sales of 100 block hanka in six months time to calculate the first investment of 20 million recovered. This period of Zhongguancun, apart from Lenovo hanka, four of the typewriter and founder of laser phototypesetting, which is subsequently widely told of three entrepreneurs found three scientists founded three well-known IT companies in the "story".
Later it turns out, the company's development on NI Guangnan and his Chinese card "path dependence" is very deep. It is precisely because of the Chinese card extended computer market technology promoting effects and hanka intellectual property of "monopoly", the company was able to "bundled" Han card sales practices established sales channels, as well as the stability of the customer, as a lot of time IT giant in China proxy.
In 1988, the company's sales for the first time by 1 billion to $ 1.2 billion. At this point in the company and the numerous trade agency of Zhongguancun company gap is significant, because the latter does not have a unique technology that is pure and circulation enterprises. It is difficult to imagine at the time neither brand or size of the company, if not by hanka, agent how computer sales. It is with considerable stability of customers and years of development accumulated technical strength, in "bundle
Tied "agent, the company decided to develop your own computer. Or NI Guangnan, after several months of intensive development, in March 1989, the company formally introduced associative 286 microprocessor, and Hanover fair a great success.Remove NI Guangnan and research and development team on Lenovo PC's contribution, to "get through" procurement channels, easy to do AST proxy, calculate the company at that time the Mainland's external window set up a family known as the "Hong Kong Lenovo computer company" company. According to the words of memories, Beijing Lenovo Group has sales of domestic channels on PC, but without a good purchase channels. So in April 1988, the "Beijing Association development" (that is, the calculation of the company), a subsidiary of China Trade Association for the promotion of Chinese technology transfer company (technology transfer company) and the Hong Kong Daw company (LU Tan equal four local businessmen) established a joint venture — Association of Hong Kong. Hong Kong Association of the original share capital of $ 90, in which the Beijing Association input $, skill transfer company invested 30 million Yuan, Hong Kong holding 33%. business of the Hong Kong Association depends mainly on two aspects: one is based on the Beijing Association in the country's capital at the market, each year, Beijing Lenovo to sell tens of thousands of computer, you can get the AST computer (or another computer). The second is a technology transfer company's huge loans, when the Beijing Association in Hong Kong also borrow money, local businesses are limited to 30 million, without further investment obligations and capacity. And do General containerizing's support, the Hong Kong Association of district 90 million share capital are just symbolic. Only technology transfer companies in Hong Kong is both a strength and prestige, and can provide foreign exchange loans. The words of my father, Mr. Liu is just Google the company President.
But then was that the establishment of the Hong Kong Association does not appear to be interpreted as Lenovo Group to improve the ability of the "supply chain management" and the necessary measures, but more like a future capital and interest of the transfer platform and tools.
90 's best selling PC Lenovo
Despite having Chinese character processing technology and production have independent intellectual property rights to the PC, Lenovo Group in the early 1990 's face is a multinational corporation in China to besiege national computer industry, with intent to destroy the national brand of the competitive environment. LIU Chuanzhi, obviously not a marketing expert, but his "organizations can rapidly and" led him to found a can make a significant contribution to the company's talent, he just sell prodigy Yang.
Yang yuanqing 1989 graduate graduating to the Lenovo group work, outstanding performance. In 1991, and served as General Manager of Lenovo Group CAD, since after taking office, the Department of business turnover each year to more than 100%, won the best agent meiguohuipugongsi award. Obviously, Yang has demonstrated their sales skills.
It is in the "words I was busy toss to from State-owned and-run" Hong Kong market, 1994, 29-year-old Yang took ordered, leading associations, micro-computer operations aggressively implemented sales and management innovation.
In 1994, Lenovo PC sales 4.5 million units, ranking among the top three Chinese market. In 1995, Lenovo is increasingly common to exceed 130% of the domestic market, sales of the top three places, is only the first five bits of domestic brands. The same year, Yang yuanqing served as Executive Director of Lenovo Group.
Since then, the Lenovo PC business is gradually increasing. # 1996 China desktop market first name and that summer has passed ISO9001 international quality certification. In 1997, Lenovo sales 50.1 million units, sales of 50 million, has created a miracle in China's information industry. 1998 Yang as Lenovo Group Senior Vice President and General Manager of Lenovo. When Lenovo total sales rose to 79 million, the third Asia-Pacific region. 1999 Lenovo completed PC sales 147.6 million units, with annual growth of 87%-to the fourth quarter of 1999, Lenovo has 13 consecutive quarter, the first Chinese market, the market share reached 27.3%; and in the third quarter of Lenovo take 8.5% market share for the first time as a PC sales champion.
It should be said that the Lenovo in the 90 's made such a huge achievement first is global IT industry development of overall industry background, in this decade, the size of the IT market in high-growth — benefit from technological innovation, speed and cost prices steady decline, PC penetration rate of the market overall scale is continually expanding. It was in the "cake" constantly gets bigger, all manufacturers have benefited. Together with the Association over at PC area famous examples include Fujian start and Nanjing tongchuang. Conversely, only when the market growth to slow, more competition, the enterprise has the real core competitiveness can displayed.
But my point is, Lenovo in the industry's competitiveness and performance of the principal should be interpreted as a legend in 1994 at a crucial time, the picking up of the national flag of the computer industry and therefore won the support of government procurement, and should not be interpreted as Lenovo has the technology to support the value of the brand.
Although unable to obtain more detailed sales data, but in 1994, Lenovo PC at the crucial moment of maximum order from a government procurement fact cannot be denied. Since then, with the Government and Informatization, Lenovo PC's main customers remains Government and domestic enterprises; while in the home computer market, brand machines share was not large, but Lenovo brand seems to be no reason to get maximum brand machines.
But in the 1990s, PC technology trends is the core technology focused on the chip and software, PC industry have been gradually moving towards high technology high-profit from low technology (and the usual argument is "saved") and low profit (no technical threshold, industry entrants will bring more competition, so that the entire industry profits decline).
It should be noted that the fact is: previous association with research and development capabilities, and have a lot to the company's sales and the brand has a significant contribution to the research results, such as Han-card and
Creating a computer for two generations. And also to go with the fusion of computer and communication technology development trends in the development of a program-controlled switches (associative fact and Huawei simultaneously to enter the communications market, and various conditions are better than Huawei). In addition, the Association has established a dedicated ASIC IC Design Centre, launched the Association OFFICE financial platform software LXBS, homegrown laser printer has been a success.If you walk along the road walk this way, Lenovo's future will not be limited, because the Association is to grasp the core of the IT industry, technical direction and China also have a large domestic market to support their national computer industry. But with the 1995 tecnical NI Guangnan is Lenovo relieved of his duties, the research team also basic to dissolve, technology accumulation that corresponding stop.
This is precisely what the Association later towards diversification strategy failed the most fundamental reason. Although 2002 Yang as CEO after a "technology of Lenovo, the Lenovo service, International Association", and in research and development have greater input, but starting from 1995, Lenovo has delayed 7 years.
If the words in the Association's second decade on Lenovo's largest "contribution" is to discover and cultivate Yang yuanqing, then the maximum of the "error" is off the NI Guangnan, and tried to explain "the African tech" line is Lenovo's Association of success.
Diversification of dreams
In 2000, IT has been rendered in a global recession in the background, the Association began implementing diversification strategy, and the digital divide. Obviously, the Lenovo growth of "benchmarking" is a human-led IBM. diversification strategy is to make the Association to continue to carry the China National computer industry as well as high-tech industry banner, to become China's IBM. owing to a lack of IBM Research strength and on the whole industry chain of control, diversification strategy is the Lenovo did more failed investment that forced to conduct business in early 2004, and implement strategic retrenchment.
In fact from legend 2002 ~ 2003 annual financial report, you see that become IBM's dream and the reality of suffering in the winter is diversification strategies dilemma of reality.
Look five business profit distribution, in addition to IT services for money, the other four business profit.
1. IT 3.72404 HK
2. consumption IT 1.71097 HK
3, handheld access device 0.17874 HK
4. contract manufacturing 0.08777 HK
5. IT services-0.23363 HK
See the 5 latest big business for the second quarter gross margin
1. IT 15.47%
2. consumption IT 11.31%
3, handheld access device 22.02%
4. contract manufacturing 16.97%
5. IT services 6.77%
Lenovo's largest business income remains the enterprise IT, the proportion is over half, which should include the part of government procurement. But this only shows its PC business to a larger, while the company continues to focus on overall business PC, especially profit source, diversity or slogan. It is worth noting that'd handhelds 7.1% and IT services 0.9%.
And in the early 1990s onwards PC penetration increase gradually reduced, and the entire market sales growth in the same was launched in the late 1990s the market. Lenovo handset field is intended to establish in IT areas to achieve the diversification of brand sales (its mobile production just outsourcing), but today, Lenovo's mobile phone business in General. This in itself would reflect the associational and many household electrical appliance enterprises of ideas, without the support of the core technology is trying to take in a given field established brand to "transplant" to other areas. To date, in the mobile phone field success seems to be only sales ability to highlight the research and development ability not to prominent TCL.
TCL's success can be attributed to the strong sales ability and low-cost production capacity, why did the same with this type of production and sales of Lenovo did not have in the mobile phone market miracle? can only explain the differences between different product markets, mobile phones and household appliances market more similarity, because almost all of the purchaser is ordinary consumers to purchase fall within the individual decision; whereas IT is in fact the market's main groups (Governments and enterprises) procurement market. So the field of household appliances TCL core competitiveness (low-cost production and strong sales) in the mobile phone field success "transplantation" but Lenovo sales abilities are not portable.
If the mobile phone market has reflected the Lenovo brand's true value, then the consumer IT33.7% revenue share opinion should be a good score. While 0.9% of IT services is on Lenovo and IBM have gaps in the most realistic note.
In the hands of the cash reserves of Lenovo as to service a major restructuring measures is the acquisition of the largest corporate information translated into major business advisory company, Hampshire, as in selling machines on the basis of the value chain extension — selling services, of course, sell services, in turn, would sell the machine. But this is IBM's more than 50% of service revenue model is essentially the difference.
In fact, IBM more than 50% of income is the service income might as well understood as a kind of pricing policies more appropriate. IBM former CEO Guoshina period, this is bureaucratic and cumbersome in IBM had a drastic reform, while a large number of layoffs, but still retains a "complete" IBM — the computer field, only the most comprehensive vendor. Although IBM PC standard cultivate like Intel and Microsoft in this giants in the field of PC, but so far, IBM to research and development strength-based product line in IT sphere in accordance with the
So is the "width".Guoshina introduced the concept of e-commerce, whose aim is to continue to boot IT industry trends, and boot up the trend of IBM still continue to monopolize the whole industry chain most technical content and value. In defense and finance such heavy product performance does not ask the price of the industry, IBM has always been the largest and most complete supplier, from giant machine to the workstation from the operating system to database, and even can be said that IBM is the only choice. It is thanks to the core hardware and software in a monopoly, IBM to a "fee".
It is important to note that most of the IBM PC sales in fact is the "bundling" sold to industrial customers. All in the industry do not have a second family enterprise with IBM-research and development ability.
It is from 2000 onwards, the global it industry entered a period of low growth, Lenovo's pressure began to appear. On the one hand because of the lack of core technologies, diversification strategy in trouble, on the other hand in the main PC field increasingly intense competition, because DELL has already begun to enter China.
Compelling internationalization?
In the domestic market, DELL on Lenovo's pressure increasing at the same time, in a passive defense State associations so far unable to globally competitive. It is precisely in order to enter the foreign market, Lenovo hired new English identity instead of the original LEGEND LENOVO and 28 April 2003 convened a Conference on the Internet. And then there is the media that this is likely to enter the legend "," overseas, a "fool" the domestic media, and consumers, speculation in the domestic market.
But today's PC industry giants DELL's core competitive power source? if it is owned by IBM to research-based independent intellectual property rights and confidential technical, and other "hard core" of technology, DELL is owned by no one in the industry and the contrast of "soft" technology-supply chain management capabilities.
DELL with e-commerce direct sales model and WINTEL Alliance strategic relationships, and operational efficiency very high, their cash cycle can reach negative 64 days, that is to say, at the customer's payment until two months after the payment to the upstream supplier. This efficiency even in the competition of Compaq are crushed, and have the same supply chain management capabilities and to become the enterprise's core competitiveness of enterprises only chain retail trade of Wal-Mart (seamless logistics) and Toyota automobile industry (zero stock and just-in-time production). Former PC giant Compaq merger with HP still is under strong pressure from DELL, merge fact has failed.
It should be said that the competitiveness of the DELL comes from its unique in the industry to direct sales model, in this regard Lenovo sales model and its associated supply chain management ability is clearly unable to compete.
Thus, mergers and other manufacturers of PC business, able to keep an existing customer base, through the expansion of scale, integrated supply chain, increase operational efficiency seems to be a Lenovo respond only way DELL challenges.
But Lenovo history has shown that its achievements in the area of today's PC and not due to its excellent ability of supply chain management, and enterprise restructuring is often both a waste of time, a very dangerous thing. Enterprise internal original operation flow and habits change is difficult, Fujian start with McKinsey's programmes, as a result, ST. It is the merger of enterprise's existing customers should be can't survive? the answer is if the Lenovo acquisition other brands of PC manufacturers, chances are good, but IBM is not possible.
IBM PC features — more as a bundled products sold to industrial customers. These industries to IBM itself has a very high level of loyalty because IBM is the symbol of the United States and high technology. Some customers, such as the Pentagon, must be from a security perspective, refused to buy foreign manufacturers of computer. If IBM PC by Chinese enterprises Association holding, how can the IBM PC and DELL, United States military will choose? on vendor comparison shopper there is the financial industry, due to the rich, don't care about price, pay most attention to quality. IBM is the symbol of quality. Want to know even the Bank's accounting system and clearing system using the IBM PC, Lenovo PC can only be used on information security requires relatively low office automation field. If Lenovo holdings IBM PC, how Citibank such large customers can not loss?
IBM is not the secret, Lenovo also could not have been unaware of the rules in this row. So, IBM 3 years ago took the initiative to take him to want to put the loss of the PC business to Lenovo (the so-called United States Government review can pass?) but it is strange that there is no promise of legend 3 years ago about why will respond by the end of 2004, while the two sides of the terms of the contract has not been formally announced.
Also just a few months ago, another banner type Enterprise — Appliance giant CHANGHONG broke in overseas are owed a huge amount of the purchase price, the Godfather-entrepreneurs NI runfeng step down. There has been a United States person interview, deeply puzzled, why would a CHANGHONG credit so many stains on the enterprise and domestic cooperation? many sound identity view: State-owned enterprises malformation restraint incentive mechanism for forcing the NI runfeng before pursuing performance "desperate", but it cannot be excluded is the collusion of contract fraud.
That the words?
(Filler)
Lenovo memorabilia of TOP10
1, 1984, 1 November, 20 million, 11 were created for Lenovo, LIU Chuanzhi, Deputy General Manager of the company at that time the name is the Institute of computing technology, Chinese Academy of Sciences, new technology development company.
2, launched in 1985 by NI Guangnan invention of the first paragraph has the associative function of Han-Han card products Association, Association of this brand name.
3, 1988, 23 June opening of the Hong Kong Association, new technology development company and Daw company and China technology transfer company, co-founder of the Hong Kong Association, using the English name: Legend-the first use of the Association as a company name.
4, November 1989, Lenovo Group, for the first time in the Association as a corporate and group name.
5, 1990, with independent intellectual property rights of Lenovo, Lenovo started production and supply Lenovo-branded PCs.
6. at the end of 1993, Lenovo lit up the picking up of the national flag of the computer industry, so that the Lenovo brand slogan in the growth of China's IT industry in particular attention.
7, 1994, 14 February Lenovo stocks listed in Hong Kong, the Lenovo brand first appeared in overseas financial markets.
8, 1996, the Association for the first time surpassed foreign brands, market share ranks the first in the domestic market, and continues for 6 years for TCC, Lenovo brand began rooted in the hearts of Chinese users. More in 1999 Lenovo to 8.5% market share topped PC sales in the Asia Pacific market.
9. on 1 April 2001, Lenovo introduced asset restructuring, split listing, Lenovo's own monograph to the Lenovo brand business. Lenovo troops embarked on a new journey, made of high-tech associations, service of Lenovo, Lenovo's strategy of internationalization.
10, August 2002, the Association successfully launched trillion times computer, become domestic first measured speed Super hundreds of high-performance computers. December 3, 2002-7, LEGEND WORLD 2002 technology innovation Conference success, demonstrating Lenovo's associated application technology strategy marks a Lenovo in product technology has made substantial progress.
Events outside:
NI Guangnan appealed cases, from the Association of the major events in clearing out. Deep clean up to thoroughly bathed in red. According to the latest version, Gavin seems nobody in the Lenovo on my heels guoban, always in the calculation of a small room.
"Yoo NI controversy" can only be regarded as Lenovo essay, write the essay is the main author of several well-known journalists IT territories. The most popular Lenovo trust is the most authoritative liuren, interview of the entrepreneurial mind forever pain, monograph the knowledge heroes 2.0. People press liuren clues and find clues that allows even a lot of historical documents.
So, Why a blog published an article of Don jakopin. Don branch, as the name implies, urged the authorities to settle as soon as possible. Counter reading for the Pinkerton, is the United States first great detective Hansard. Don branch flat article Yoo say, once said, Lu said. Interviewees may not acknowledge it, a push is just six journalists and media publishers. The interviewer even took out a sound recording, videotape, people there are excuses: you will not use high-tech machining? you will not be removed from the Association's high-tech talent can not be?
Route controversy is not about Lenovo — — should be "craft-trade" or "African technology" until today, is still the topic people squabbling.
Stick should be went that way originally from the Chinese Academy of Sciences of legend of a small company developing today, not to trade with the primitive accumulation, there is no prerequisite for survival in the market, namely today Lenovo achievements, Lenovo, Lenovo will have no choice in the right way.
While adhering to the associative way went to the wrong person believes that the Association is going to be passive, because there is no technology as a support of powerful "core", ignore the technology driving the last-in, to China's national enterprises to establish a bad development mode.
Seem to be justified, the following editors for an opposing viewpoint and neutral point of view of jina.
Back side view: associative way wrong
Representative: zuodapei
"LIU Chuanzhi 1998 formally proposed" African technology roadmap, "Lenovo in from 1998 to 2003 five years sales only increased the middle-aged 1 times more, and before that from 1993 to 1998, five years, Lenovo Group of year sales volume has increased by nearly 5 times. The two 5-year Lenovo Group's annual sales increase of values are not large, but 1998-2003 the cardinality value of 5 years has almost 1993-1998, the five-year base value of 6 times.
"Lenovo limited to ten or so years ago began production and sales of computer-based, and competition fierce, lose the potential for the development, now has to rely on government procurement support performance. It is Lenovo's own practice experience has proven that ' African tech ' line is the decline of the high-tech enterprises. ”
Square: don't go, Lenovo to today
Representative: lingzhijun (compose the Lenovo Community law)
In one week on the Internet who wrote the Jamie is who usurps "zuodapei" teacher "in the name of the Association held an attack:" a company is to technology or to trade priority, all depends on the situation of the enterprise itself, and what does not exist "should" or "must". See the DELL computer in foreign countries, it is not INTEL's chip technology, nor the Microsoft operating system core technology, but it still do good. It doing? it is computer Assembly, but it cost control, logistics and more efficient, so quite profitable. You say that DELL is technical or trade priority?, technology and trade should not be such a ratio, this is the strategy with the development of enterprises.
"Bluntly that is not in the capital, first do some technology simple accumulation of funds, funds accumulated to a certain degree of chant on industrial upgrading.
"Lenovo should always go technology, because the" Chinese card as an unmatchable product, so the entire marketing ". This sentence and let people have nothing to say. First, enter a field
Just because something and after entering this field is not logically success; second, even if IBM, NOKIA, business transformation is also very good, why will always pursue Technology Association; third, the Chinese card is actually a specific historical period of a specific product, after that there are kind of Board-level products are given a great opportunity in China, such strict requirements of Association has been able to be technically the so-called leading products is not justified, moreover, Chinese card really is a high technology product? fourth, if the calculation is really very suitable for business transformation of technological achievements, why no transformation? that truly speak to the fact, whether or not, why not converting? this is not a simple complained that two sentences and then detained for a hat can solve. Don't think that even IBM, many patent and scientific research has not translated into commercial applications.Neutral point of view: right or wrong is performance art
Representative: artificial Paradise (net)
"Wang Xiaobo evaluation of Chinese and Western culture, called an analogy that radish is vegetables that's right, but it cannot be said that the vegetable is the turnip, in the end everyone can only eat radish yingzi. A priori truth can only forward, not back. Secondly, great value. Such as "technical", "trade", assuming that a company's entire budget, invest the research and development, or investment sales, results at a glance. You may wish to try out, for sure.
"If you can't make that NI is not appealed, it will not be" strategic "layoff? if you lucky bucket down Liu, there would not be the same as Wang Xuan from technology leaders become spiritual leaders, and finally fade? even today proves that" African tech "completely correct, NI is" proud, bigotry, fierce and desperate "? even proves" dustry "completely correct, is it time to be back in 1994?
"But Lenovo future do? you hear suggestions. Brilliant ideas, "we now eat bitter do technology, the future will be able to do" ... In turn, if that Lenovo's road "go on", go to chip or telecommunications, there will be a founder or other company item location and similar difficulties, is not someone will also come forward: "xx way" go wrong! "someone n years ago has" found the future "?
"The original just do first is wrong," should "," technology ", this is another King vilified; but how" technical "can" and "no one cares about, and most importantly," suffer ", performing" revitalizing the national science and technology "of performance art. The original "mechanic trade" is not a business strategy, it is also a great moral.
Route controversy is not about Lenovo — — should be "craft-trade" or "African technology" until today, is still the topic people squabbling.
Stick should be went that way originally from the Chinese Academy of Sciences of legend of a small company developing today, not to trade with the primitive accumulation, there is no prerequisite for survival in the market, namely today Lenovo achievements, Lenovo, Lenovo will have no choice in the right way.
While adhering to the associative way went to the wrong person believes that the Association is going to be passive, because there is no technology as a support of powerful "core", ignore the technology driving the last-in, to China's national enterprises to establish a bad development mode.
Seem to be justified, the following editors for an opposing viewpoint and neutral point of view of jina.
Back side view: associative way wrong
Representative: zuodapei
"LIU Chuanzhi 1998 formally proposed" African technology roadmap, "Lenovo in from 1998 to 2003 five years sales only increased the middle-aged 1 times more, and before that from 1993 to 1998, five years, Lenovo Group of year sales volume has increased by nearly 5 times. The two 5-year Lenovo Group's annual sales increase of values are not large, but 1998-2003 the cardinality value of 5 years has almost 1993-1998, the five-year base value of 6 times.
"Lenovo limited to ten or so years ago began production and sales of computer-based, and competition fierce, lose the potential for the development, now has to rely on government procurement support performance. It is Lenovo's own practice experience has proven that ' African tech ' line is the decline of the high-tech enterprises. ”
Square: don't go, Lenovo to today
Representative: lingzhijun (compose the Lenovo Community law)
In one week on the Internet who wrote the Jamie is who usurps "zuodapei" teacher "in the name of the Association held an attack:" a company is to technology or to trade priority, all depends on the situation of the enterprise itself, and what does not exist "should" or "must". See the DELL computer in foreign countries, it is not INTEL's chip technology, nor the Microsoft operating system core technology, but it still do good. It doing? it is computer Assembly, but it cost control, logistics and more efficient, so quite profitable. You say that DELL is technical or trade priority?, technology and trade should not be such a ratio, this is the strategy with the development of enterprises.
"Bluntly that is not in the capital, first do some technology simple accumulation of funds, funds accumulated to a certain degree of chant on industrial upgrading.
"Lenovo should always go technology, because the" Chinese card as an unmatchable product, so the entire marketing ". This sentence and let people have nothing to say. First, enter a field to the end because what and when entering this field is not logically success; second, even if IBM, NOKIA, business transformation is also very good, why will always pursue Technology Association; third, the Chinese card is actually a specific historical period of a specific product, after that there are kind of Board-level products are given a great opportunity in China, such strict requirements of Association has been able to have the technical
The so-called leading products is not justified, moreover, Chinese card really is a high technology product? fourth, if the calculation is really very suitable for business transformation of technological achievements, why no transformation? that truly speak to the fact, whether or not, why not converting? this is not a simple complained that two sentences and then detained for a hat can solve. Don't think that even IBM, many patent and scientific research has not translated into commercial applications.Neutral point of view: right or wrong is performance art
Representative: artificial Paradise (net)
"Wang Xiaobo evaluation of Chinese and Western culture, called an analogy that radish is vegetables that's right, but it cannot be said that the vegetable is the turnip, in the end everyone can only eat radish yingzi. A priori truth can only forward, not back. Secondly, great value. Such as "technical", "trade", assuming that a company's entire budget, invest the research and development, or investment sales, results at a glance. You may wish to try out, for sure.
"If you can't make that NI is not appealed, it will not be" strategic "layoff? if you lucky bucket down Liu, there would not be the same as Wang Xuan from technology leaders become spiritual leaders, and finally fade? even today proves that" African tech "completely correct, NI is" proud, bigotry, fierce and desperate "? even proves" dustry "completely correct, is it time to be back in 1994?
"But Lenovo future do? you hear suggestions. Brilliant ideas, "we now eat bitter do technology, the future will be able to do" ... In turn, if that Lenovo's road "go on", go to chip or telecommunications, there will be a founder or other company item location and similar difficulties, is not someone will also come forward: "xx way" go wrong! "someone n years ago has" found the future "?
"The original just do first is wrong," should "," technology ", this is another King vilified; but how" technical "can" and "no one cares about, and most importantly," suffer ", performing" revitalizing the national science and technology "of performance art. The original "mechanic trade" is not a business strategy, it is also a great moral.
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At the end of March 2005, the world's largest private equity investment company-Texas Pacific Group, Pan-Atlantic group and the United States new bridge investment group and association agreement, the three companies to the Lenovo Group provides 3.5 million strategic investment. The media is of the view that the three companies become shareholders, promising that the investment industry association and the IBM personal computer trading behavior. The industry believes that these are United States well-known financial investment companies, their shares will greatly improve the Lenovo's image in the capital market, Lenovo power in United States market in the future, and thus to Lenovo's internationalization in depth.
Foreign shares: who's who of blood transfusion
M Ah LUN/text
The three American investment loans for Lenovo shares, China media ignores an important aspect: the note blood investment enables IBM to get more cash, but significantly reduces Association (United States) of the company's stock.
Lenovo for three American investment loans, the Chinese media is almost a applauded, said: not only in global Lenovo PC manufacturer ranking from No. 8-bit up to 3-digit, and also access to u.s. companies note blood. According to the author in the United States long experience and observation, the real benefit of injecting is IBM Corporation and Western United States; and China, in addition to the top for the company, the other is not very meaningful.
At the end of 2004 and early 2005, IBM announced the sale of PC business, published questions and answers (Q & A), of which the PC technology and design study portion also sold to Lenovo. From text, sold to Lenovo PC technology research component simply mount design part of the core technology is not text description. According to the United States technology market in General, it means that the core technology is not sold to Lenovo. The actual situation, IBM personal computer's CPU (central processing unit), not by IBM to grasp, but by Intel and other companies. Therefore, even if IBM put PC technology research portion of all sales to associated companies don't have much technical content.
The three American investment loans for Lenovo shares, China media ignores an important aspect: the note blood investment enables IBM to get more cash, significantly reducing your Lenovo (United States) of the company's shareholders, namely from the transaction started by 18.9% drops 13.4% share.
In other words, by the way, IBM to become shareholders of the company are being phased out of the PC business to considerably better price selling Lenovo; through its partner company to Lenovo loans, will be a significant part of the Lenovo shares for cash; in this way, IBM makes it easier to dispose of the business from the PC, at the same time, to dispose of the whole front got a considerable amount of cash. Those who seem to think of company funds in injecting a significant part of, but is the result of Lenovo's hand, back to the United States and go to the IBM company.
Lenovo company after the loan has always been our company's shares, loans cash only get half or so, but to assume full responsibility for the debt. Later, if the two faces of the PC business what errors, Lenovo (United States) significantly devalued shares, IBM would not have suffered any losses, but since have got enough cash and can get rid of the joint venture with Lenovo PC business.
It management said that, in accordance with United States practice, the three companies to associate with the company's equity loan reflects the United States market on Lenovo's lack of confidence, the Lenovo organization require United States several companies spread risk way to enter the United States market operation, or the IBM Lenovo just rely on the company's reputation to share in the United States PC market is not enough; loan does not always mean that favors
In many cases, it is an enabling this market confidence and need support is justified, for example, even the best case, Lenovo PC marriage business would not be so attractive:The proportion of the global PC market share (by 04-III)
Dell……16.4% | HP……13.9%
IBM-PC……5.2% | Fujitsu……3.8%
Acer……3.2% | Toshiba……3.2%
NEC……2.6% | Gateway……2.2%
Lenovo……2.0% | Apple……1.9%
Source: Gartner.
You can see, Lenovo and IBM PC marriage business together is sharing ratio of 7.2%, less than del and HP, more than a single company in Japan, than Japan company together. From a technical perspective, Japan has an IBM PC mount design of main parts, the technology content over a Lenovo. Layout in this market, is the ideal situation, Lenovo PC marriage business nothing particularly charming place.
IBM is a very rich management experience and established multinational corporations, after many market turmoil of experience and numerous self transformation, it is fully aware that with the Lenovo PC marriage business prospects. Before long, IBM will continue to do sections Lenovo shares for cash, or holding period after throwing away Lenovo co., is reasonable. In other words, IBM didn't spend a dime, not only easy to dispose of the company are being phased out of the PC business, but also for a new round of self transformation adds $ in cash.
Many media have had comments, said that IBM will convert the funds back to the merger for the Chinese market. It is wishful thinking. In early may, the Lenovo United States opened new PC business, IBM Corporation announced the dismissal of tens of thousands of European branches of trade. This will give the European economy no small negative effects. In order to appease the European market on IBM's confidence that the company again said, from sales to China's Lenovo PC business transactions, IBM did get 17.5 billion of cash, the company will put the money spent on company restructuring and the reorganization of global business. This shows that so-called IBM to sell PC business funds back to the Chinese market, is just the expectations.
Through this merger, Lenovo's world business ranking considerably. For those keen on ranking, this may be good news. In the near future, the good news is that more and more. For example, in the United States Government approved the merger of IBM Lenovo PC business, the New York Times and other newspapers disclosed that step in the footsteps of IBM Corp., United States with more large enterprises are considered outdated technology and still there is market demand for the product business sold to China. As a result, there will be more Chinese companies like Lenovo Corporation Board world ranking.
This kind of scenario, with 30 years ago developed textile, automotive and household appliances, and other technology obsolescence and still have a market demand for manufacturing business transfer to developing countries, many developing countries reached the top of the world ranking list at the same time, enterprises in the North and South sides of the gap between science and technology strength is also growing.
From the overall look, Lenovo merger transactions may obtain in the United States market trading opportunities, but not to China's information technology and market development Note blood benefit is to the United States enterprise transformation and European and American market development Note blood. This situation is Lenovo to trade skills as the inevitable result of the development strategy. The merger of the PC business in the United States market is open, on the strength development of information technology are not very meaningful. From technology strategy and industry security perspective, China's information technology, in particular the development of Chinese information technology to gain the initiative, there is only one real way, that is: domestic, independent innovation, and development of core technologies, implement the development strategy of dustry.
From the United States of acquisitions of m Ah LUN/text
The Lenovo acquisition of IBM PC is a benefit or disadvantages, there are a variety of voices in the industry, but many remain in this debate, but for the ensuing three company "injecting", overflow of kind, however for a capital injection of contractual terms? injected after the company's ownership structure will happen on? the destiny of the freedom of Association but fresh addicted, and foreign media are this tacit understanding and lost the ability to think? how this hidden secret? here are areas of the United States claimed the interviews.
Q: How do you think this acquisition to date, the detailed provisions of the contract is still not open?
A: at present all acquisition-related public information, have not found the Lenovo acquisition of detailed provisions of the contract IBM-PC. Estimated that the specific provisions of the contract, there is still a secret, and even IBM's common shareholders do not know the specific content. Want to know is that the United States is an open community, and if so classified, the General description of the legal content of impeding reasonable however. For example, the implementation of the contract, the legend (United States) company may lose many United States Government clients, once the market, so that not only IBM's unit value may significantly decrease, and also may cause the merge failed. Therefore, in the full realization of the contract prior to IBM, the best choice is the specific terms of confidentiality.
Q: this merger can be many and Lenovo PC related core technology?
A: IBM announced sales PC business, published questions and answers (Q & A), of which the PC technology and design study portion also sold to Lenovo. From text, sold to Lenovo PC technology research section, just assemble the design part of the core parts
(Such as CPU requirements, IO-BIOS and related software requirements) you do not have a text description.According to the United States in General, it means that the core technology is not sold to Lenovo. Of course, this is only done in accordance with normal practice, requires evidence of inference to make exact conclusions.
Q: a 4/4/financial reports, three United States companies Association (United States) company investment loans, IBM get more cash, significantly reduced on Lenovo (United States) of the company's stock. National reports that the description of the foreign enterprise Association (United States) company, so grab a investment loans. How do you understand this event?
A: as I worked on Wall Street experience, it should be said that is IBM really slick Home: first of all, it's way through shares, the company is being phased out of the PC business to considerably better price selling Lenovo; then, through its partner company loans to Lenovo, forcing the Lenovo allows it to be a significant part of the Lenovo shares for cash;-pros IBM makes it easier to dispose of the business from the PC, and dispose of the former, and from Lenovo there got a considerable amount of money.
Therefore, on the surface, the three companies to Lenovo Lenovo loan is good, in fact, the United States funds a substantial portion but is Lenovo's hand, back to the United States and into the hands of the IBM company. Lenovo, is obtained after a loan is your own company's shares, loans cash only get half or so, but to pay all the interest. Later, if the two faces of the PC business what errors, Lenovo (United States) shares become a no value, that IBM would not have suffered any losses, but since have got enough cash and can get rid of IBM-Lenovo PC marriage business.
Q: How do you see this merger and vision for the future?
Answer: even the best case, Lenovo PC marriage business would not be so attractive. Lenovo and IBM PC marriage business together is sharing ratio of 7.2%, less than del and HP, more than a single company in Japan, than Japan company together. From a technical perspective, Japan has an IBM PC Assembly design, technical content over a Lenovo. Therefore, it is the best situation, Lenovo PC marriage business nothing particularly charming place.
IBM is the "fried noodle", it is fully aware of how prospects. This is not surprising: the contract for the approval of the United States Government, IBM will do part of the shares for cash, Lenovo. It is expected that the two companies of the marriage after the start of the PC business, IBM Corporation begins selling transfer Association (United States) stock, then from Lenovo earned money in China market hosts business is broken.
IBM didn't spend a dime, not only easy to dispose of the company are being phased out of the PC business, but also adds $ in cash. You said that IBM is not a cunning home? domestic print media seems not to have seen these tricks, this is the IBM company covers a great cheap things, are what is optimistic about Lenovo. I watched those domestic media, a Manchu twist really don't know what to say.
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