Business Momentum Drives Recognition in FORTUNE’s 2011 Ranking of World’s Largest Companies
RESEARCH TRIANGLE PARK, NC – July 7, 2011: Lenovo announced today that it has returned to the Fortune Global 500, placing No. 450 in FORTUNE magazine’s 2011 ranking of the world’s largest corporations by revenue. The Company reenters the magazine’s annually released list for the first time since 2008.
“Over the past two years, we have made significant progress in our journey toward becoming the leading personal technology company in the world, and our return to the ‘Fortune Global 500’ rankings serves as great recognition of Lenovo’s strong business results and our focus on serving our customers and business partners," said Yang Yuanqing, chief executive officer, Lenovo. “Moving forward, we will continue to make strategic investments in innovative products, our brand, and new market segments, including mobile internet and digital home, while balancing expenses and revenues to drive long-term sustainable and profitable growth.”
Lenovo’s reentry into the Fortune Global 500 further demonstrates the company’s rapid global business growth. The company is the fastest growing of the top-five PC manufacturers worldwide for the sixth quarter in a row. In addition, for the eighth quarter in a row, Lenovo’s growth exceeded the worldwide PC market as a whole. During the company’s fourth quarter ending March 31, 2011, Lenovo’s worldwide shipments increased 16 percent year-over-year, and for the first time, Lenovo surpassed $21 billion in annual revenue. This momentum is a result of Lenovo’s “protect and attack” strategy which focuses on maintaining a stronghold in China while aggressively building brand awareness and presence in new and emerging markets.
The Fortune Global 500 is a ranking of the top 500 corporations worldwide as measured by revenue. The list is compiled and published annually by Fortune magazine. For more information about the Fortune Global 500 list, please visit http://www.fortune.com.
Lenovo (HKSE: 992) (ADR: LNVGY) is a $US21 billion personal technology company serving customers in more than 160 countries, and the world’s fourth-largest PC vendor. Dedicated to building exceptionally engineered PCs and mobile Internet devices, Lenovo’s business is built on product innovation, a highly-efficient global supply chain and strong strategic execution. Formed by Lenovo Group’s acquisition of the former IBM Personal Computing Division, the company develops, manufactures and markets reliable, high-quality, secure and easy-to-use technology products and services. Its product lines include legendary Think-branded commercial PCs and Idea-branded consumer PCs, as well as servers, workstations, and a family of mobile Internet devices, including tablets and smart phones. Lenovo, a Fortune Global 500 company, has major research centers in Yamato, Japan; Beijing, Shanghai and Shenzhen, China; and Raleigh, North Carolina. For more information see www.lenovo.com