The amazing journey of Lenovo from an underdog to industry leader is a surprisingly poetic one. Over years, Lenovo developed from a small government funded venture based in China to a powerhouse known all the world over for excellent personal computers.Lenovo, which was founded in 1984 by Liu Chuanzhi, started with a group of 10 engineers with a limited budget of 200,000 yuan. The company had a very humble origin, starting out in a small one-story bungalow in Beijing. Initial business mainly consisted of distributing foreign computers to Chinese households and installing them.
Yuanqing joined the company as an intern and used to deliver computers by bicycle.Lenovo had many failed ventures as a start up - it failed in its attempt to import televisions and market digital watches. The first success happened was when a circuit board was developed. The board enabled IBM personal computers to process Chinese characters. Liu stated that at the time Lenovo consisted of only scientists who knew nothing about marketing what they developed.