The company has already captured a huge market by delivering high quality cost effective range of products. Now the latest expansion strategy to be followed by the PC makers is to position themselves among the top two PC makers across the globe. At present Lenovo is at number three.
From 2005, Lenovo was into expansion, the company accrued many players in the global world. At present the firm has a potential of producing end number of products and also has a market share of about 12.2 percent. The first step taken by the firm as part of expansion in the global market was with the acquisition of IBM PC in 2005. From 2005 it was a rapidly growing phase for the company. At this point of time Lenovo has two headquarters worldwide and has expanded the business into many other countries including China and India. As part of expansion the company has also accrued German company Medion AG.
The company's products are always accepted in the market for its quality and services provided by the firm. The demands for their products are very high in many countries. Apart from personal computers the company also provides wide range of products for the global users. The products range from PCs to laptops and workstations and high end digital accessories.
As per the survey conducted by experts, the company has reached a sales target of 2.8 billion UD dollars. Moreover the findings also reported that the company has already captured 47.9% of the global market. According to the CEO, the firm is now aiming to increase its sales at a high margin. They are also planning to invest huge amount for sales increase and other expansion strategies. Moreover increase in product range and cheaper pricing strategy is also under consideration. The short term objective of the firm is to deliver high quality products at an affordable price and also increase the number of innovative products to tap the market.
Lenovo's rapid growth and upcoming expansion strategies might be a threat for global leaders in the Personal computer sector. The firm has already earned fame in delivering high quality long life products at very cheaper rate. At present the growth of the company is very fast and is increasing around 23% year by year. Top executives of the firm strongly believe that the company will reach the top position in the near future.