Lenovo 2008 Annual Report Download - page 8

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6Lenovo Group Limited • Annual Report 2007/08
Lenovo has focused on implementing our well-defined
strategies since we completed the acquisition of IBM’s
PC Division. By the 2007/08 fiscal year, Lenovo had
achieved all the major targets set before the acquisition. We
expanded from a US$3 billion company to a US$17 billion
multi-national company. We returned the acquired business
to profitability, with overall profit in the 2007/08 fiscal year
triple that prior to the acquisition. We also formed a world-
class international management team and saw increasing
awareness of the Lenovo brand. As a result of these
accomplishments – and more – it is clear that our
acquisition of IBM’s PC Division has proved to be a
successful transaction. Lenovo’s aspirations to
expand our base of business through the
acquisition, remove the ceiling on our growth,
and generate enhanced returns for our
shareholders are becoming a reality.
Lenovo will continue our focus on our PC business
to achieve profitable growth at higher-than-industry
levels as we take up a new position in the global
PC market.
Chairman’s statement