Lenovo to refocus on Chinese market
With the company back in the hands of Chinese executives, it will now concentrate more heavily on its home market, according to a Wall Street Journal report.
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.
Itearlier 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 laptops and desktops, and more recently, a Netbook.. 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
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.