The founder of China'sLenovo Group Ltd., which acquired IBM Corp.'s PC division in the early 2000s, has decided to retire as chairman of the parent company of one of the world's largest PC manufacturers, Kyodo News learned Thursday.
Liu Chuanzhi, a 75-year-old Communist Party member, launched Lenovo in 1984. After the company topped the domestic PC market in 1997, it completed the acquisition of IBM's PC business in 2005, becoming the third-biggest PC maker in the world.
Lenovo also set up joint ventures in the PC space with Japan'sNEC Corp. and Fujitsu Ltd. in 2011 and 2018, respectively.
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