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(From SinoCast China IT Watch)
BEIJING, May 09, SinoCast -- China's largest personal computer maker Lenovo Group Ltd. (SEHK: 0992 and ADR: LNVGY) announced the completion of the acquisition of IBM's personal computer unit on May 1, thus creating the worlds' third largest PC maker next to Dell and HP.
After the acquisition, the new Lenovo will see an annual income of USD 13 billion and an annual sales volume of 14 million, accounting for a 7% share in the global market.
The new Lenovo is planed to be established in the first quarter of 2005, according to the agreement first announced on December 8, 2004. On March 31 this year, Lenovo received an …