Lenovo Group Limited is a Chinese electronics company that acquired IBM’s PC business in 2005 for $1.25 billion and an assumed debt of $500 million. However the Lenovo brand can be misunderstood about whether they are a high-end or a low-end brand. The Lenovo Think brand is associated with higher end markets, but other Lenovo products are known for being lower-end products. This is why Lenovo CEO Yang Yuanqing announced that the company will be split into two groups: Lenovo Business Group (LBG) and Think Business Group (TBG) starting April 1st.
The Lenovo Business Group will be led by Lenovo SVP Liu Jun and it will work on consumer desktops, laptops, tablets, smart TVs, and smartphones. The Think Business Group is going to be led by SVP Dr. Peter Hortensius and it will work on making more enterprise-friendly products.