title: Stock market

text: Trade in stock markets means the transfer (in exchange for money) of a stock or security from a seller to a buyer. This requires these two parties to agree on a price. Equities (stocks or shares) confer an ownership interest in a particular company.


title: Stock market

text: Participants in the stock market range from small individual stock investors to larger investors, who can be based anywhere in the world, and may include banks, insurance companies, pension funds and hedge funds. Their buy or sell orders may be executed on their behalf by a stock exchange trader.


title: Stock market

text: Some exchanges are physical locations where transactions are carried out on a trading floor, by a method known as open outcry. This method is used in some stock exchanges and commodities exchanges, and involves traders shouting bid and offer prices. The other type of stock exchange has a network of computers where trades are made electronically. An example of such an exchange is the NASDAQ.


title: Stock market

text: A potential buyer "bids" a specific price for a stock, and a potential seller "asks" a specific price for the same stock. Buying or selling "at the Market" means you will accept "any" ask price or bid price for the stock. When the bid and ask prices match, a sale takes place, on a first-come, first-served basis if there are multiple bidders at a given price.


title: Stock market

text: The purpose of a stock exchange is to facilitate the exchange of securities between buyers and sellers, thus providing a marketplace. The exchanges provide real-time trading information on the listed securities, facilitating price discovery.


title: Stock market

text: The New York Stock Exchange (NYSE) is a physical exchange, with a hybrid market for placing orders electronically from any location as well as on the trading floor. Orders executed on the trading floor enter by way of exchange members and flow down to a floor broker, who submits the order electronically to the floor trading post for the Designated market maker ("DMM") for that stock to trade the order. The DMM's job is to maintain a two-sided market, making orders to buy and sell the security when there are no other buyers or sellers. If a bid–ask spread exists, no trade immediately takes place – in this case, the DMM may use their own resources (money or stock) to close the difference. Once a trade has been made, the details are reported on the "tape" and sent back to the brokerage firm, which then notifies the investor who placed the order. Computers play an important role, especially for program trading.


title: Stock market

text: The NASDAQ is an electronic exchange, where all of the trading is done over a computer network. The process is similar to the New York Stock Exchange. One or more NASDAQ market makers will always provide a bid and ask the price at which they will always purchase or sell 'their' stock.


title: Stock market

text: The Paris Bourse, now part of Euronext, is an order-driven, electronic stock exchange. It was automated in the late 1980s. Prior to the 1980s, it consisted of an open outcry exchange. Stockbrokers met on the trading floor of the Palais Brongniart. In 1986, the CATS trading system was introduced, and the order matching system was fully automated.


title: Stock market

text: People trading stock will prefer to trade on the most popular exchange since this gives the largest number of potential counter parties (buyers for a seller, sellers for a buyer) and probably the best price. However, there have always been alternatives such as brokers trying to bring parties together to trade outside the exchange. Some third markets that were popular are Instinet, and later Island and Archipelago (the latter two have since been acquired by Nasdaq and NYSE, respectively). One advantage is that this avoids the commissions of the exchange. However, it also has problems such as adverse selection. Financial regulators have probed dark pools.


title: Stock market

text: Market participants include individual retail investors, institutional investors (e.g., pension funds, insurance companies, mutual funds, index funds, exchange-traded funds, hedge funds, investor groups, banks and various other financial institutions), and also publicly traded corporations trading in their own shares. Robo-advisors, which automate investment for individuals are also major participants.


title: Stock market

text: Indirect investment involves owning shares indirectly, such as via a mutual fund or an exchange traded fund. Direct investment involves direct ownership of shares.


title: Stock market

text: Direct ownership of stock by individuals rose slightly from 17.8% in 1992 to 17.9% in 2007, with the median value of these holdings rising from $14,778 to $17,000. Indirect participation in the form of retirement accounts rose from 39.3% in 1992 to 52.6% in 2007, with the median value of these accounts more than doubling from $22,000 to $45,000 in that time. Rydqvist, Spizman, and Strebulaev attribute the differential growth in direct and indirect holdings to differences in the way each are taxed in the United States. Investments in pension funds and 401ks, the two most common vehicles of indirect participation, are taxed only when funds are withdrawn from the accounts. Conversely, the money used to directly purchase stock is subject to taxation as are any dividends or capital gains they generate for the holder. In this way, the current tax code incentivizes individuals to invest indirectly.


title: Stock market

text: Rates of participation and the value of holdings differ significantly across strata of income. In the bottom quintile of income, 5.5% of households directly own stock and 10.7% hold stocks indirectly in the form of retirement accounts. The top decile of income has a direct participation rate of 47.5% and an indirect participation rate in the form of retirement accounts of 89.6%. The median value of directly owned stock in the bottom quintile of income is $4,000 and is $78,600 in the top decile of income as of 2007. The median value of indirectly held stock in the form of retirement accounts for the same two groups in the same year is $6,300 and $214,800 respectively. Since the Great Recession of 2008 households in the bottom half of the income distribution have lessened their participation rate both directly and indirectly from 53.2% in 2007 to 48.8% in 2013, while over the same period households in the top decile of the income distribution slightly increased participation 91.7% to 92.1%. The mean value of direct and indirect holdings at the bottom half of the income distribution moved slightly downward from $53,800 in 2007 to $53,600 in 2013. In the top decile, mean value of all holdings fell from $982,000 to $969,300 in the same time. The mean value of all stock holdings across the entire income distribution is valued at $269,900 as of 2013.


title: Stock market

text: The racial composition of stock market ownership shows households headed by whites are nearly four and six times as likely to directly own stocks than households headed by blacks and Hispanics respectively. As of 2011 the national rate of direct participation was 19.6%, for white households the participation rate was 24.5%, for black households it was 6.4% and for Hispanic households it was 4.3%. Indirect participation in the form of 401k ownership shows a similar pattern with a national participation rate of 42.1%, a rate of 46.4% for white households, 31.7% for black households, and 25.8% for Hispanic households. Households headed by married couples participated at rates above the national averages with 25.6% participating directly and 53.4% participating indirectly through a retirement account. 14.7% of households headed by men participated in the market directly and 33.4% owned stock through a retirement account. 12.6% of female-headed households directly owned stock and 28.7% owned stock indirectly.


title: Stock market

text: In a 2003 paper by Vissing-Jørgensen attempts to explain disproportionate rates of participation along wealth and income groups as a function of fixed costs associated with investing. Her research concludes that a fixed cost of $200 per year is sufficient to explain why nearly half of all U.S. households do not participate in the market. Participation rates have been shown to strongly correlate with education levels, promoting the hypothesis that information and transaction costs of market participation are better absorbed by more educated households. Behavioral economists Harrison Hong, Jeffrey Kubik and Jeremy Stein suggest that sociability and participation rates of communities have a statistically significant impact on an individual's decision to participate in the market. Their research indicates that social individuals living in states with higher than average participation rates are 5% more likely to participate than individuals that do not share those characteristics. This phenomenon also explained in cost terms. Knowledge of market functioning diffuses through communities and consequently lowers transaction costs associated with investing.


title: Stock market

text: In 12th-century France, the courtiers "de change" were concerned with managing and regulating the debts of agricultural communities on behalf of the banks. Because these men also traded with debts, they could be called the first brokers. The Italian historian Lodovico Guicciardini described how, in late 13th-century Bruges, commodity traders gathered outdoors at a market square containing an inn owned by a family called "Van der Beurze", and in 1409 they became the "Brugse Beurse", institutionalizing what had been, until then, an informal meeting. The idea quickly spread around Flanders and neighboring countries and "Beurzen" soon opened in Ghent and Rotterdam. International traders, and specially the Italian bankers, present in Bruges since the early 13th-century, took back the word in their countries to define the place for stock market exchange: first the Italians (Borsa), but soon also the French (Bourse), the Germans (börse), Russians (birža), Czechs (burza), Swedes (börs), Danes and Norwegians (børs). In most languages, the word coincides with that for money bag, dating back to the Latin bursa, from which obviously also derives the name of the Van der Beurse family.


title: Stock market

text: In the middle of the 13th century, Venetian bankers began to trade in government securities. In 1351 the Venetian government outlawed spreading rumors intended to lower the price of government funds. Bankers in Pisa, Verona, Genoa and Florence also began trading in government securities during the 14th century. This was only possible because these were independent city-states not ruled by a duke but a council of influential citizens. Italian companies were also the first to issue shares. Companies in England and the Low Countries followed in the 16th century. Around this time, a joint stock company—one whose stock is owned jointly by the shareholders—emerged and became important for the colonization of what Europeans called the "New World".


title: Stock market

text: There are now stock markets in virtually every developed and most developing economies, with the world's largest markets being in the United States, United Kingdom, Japan, India, China, Canada, Germany (Frankfurt Stock Exchange), France, South Korea and the Netherlands.


title: Stock market

text: The stock market is one of the most important ways for companies to raise money, along with debt markets which are generally more imposing but do not trade publicly. This allows businesses to be publicly traded, and raise additional financial capital for expansion by selling shares of ownership of the company in a public market. The liquidity that an exchange affords the investors enables their holders to quickly and easily sell securities. This is an attractive feature of investing in stocks, compared to other less liquid investments such as property and other immoveable assets.


title: Stock market

text: History has shown that the price of stocks and other assets is an important part of the dynamics of economic activity, and can influence or be an indicator of social mood. An economy where the stock market is on the rise is considered to be an up-and-coming economy. The stock market is often considered the primary indicator of a country's economic strength and development.


title: Stock market

text: Rising share prices, for instance, tend to be associated with increased business investment and vice versa. Share prices also affect the wealth of households and their consumption. Therefore, central banks tend to keep an eye on the control and behavior of the stock market and, in general, on the smooth operation of financial system functions. Financial stability is the raison d'être of central banks.


title: Stock market

text: Exchanges also act as the clearinghouse for each transaction, meaning that they collect and deliver the shares, and guarantee payment to the seller of a security. This eliminates the risk to an individual buyer or seller that the counterparty could default on the transaction.


title: Stock market

text: The smooth functioning of all these activities facilitates economic growth in that lower costs and enterprise risks promote the production of goods and services as well as possibly employment. In this way the financial system is assumed to contribute to increased prosperity, although some controversy exists as to whether the optimal financial system is bank-based or market-based.


title: Stock market

text: Recent events such as the Global Financial Crisis have prompted a heightened degree of scrutiny of the impact of the structure of stock markets (called market microstructure), in particular to the stability of the financial system and the transmission of systemic risk.


title: Stock market

text: Changes in stock prices are mostly caused by external factors such as socioeconomic conditions, inflation, exchange rates. Intellectual capital does not affect a company stock's current earnings. Intellectual capital contributes to a stock's return growth.


title: Stock market

text: The efficient-market hypothesis (EMH) is a hypothesis in financial economics that states that asset prices reflect all available information at the current time.


title: Stock market

text: The 'hard' efficient-market hypothesis does not explain the cause of events such as the crash in 1987, when the Dow Jones Industrial Average plummeted 22.6 percent—the largest-ever one-day fall in the United States.


title: Stock market

text: This event demonstrated that share prices can fall dramatically even though no generally agreed upon definite cause has been found: a thorough search failed to detect "any" 'reasonable' development that might have accounted for the crash. (Note that such events are predicted to occur strictly by randomness, although very rarely.) It seems also to be true more generally that many price movements (beyond those which are predicted to occur 'randomly') are "not" occasioned by new information; a study of the fifty largest one-day share price movements in the United States in the post-war period seems to confirm this.


title: Stock market

text: A 'soft' EMH has emerged which does not require that prices remain at or near equilibrium, but only that market participants cannot "systematically" profit from any momentary 'market anomaly'. Moreover, while EMH predicts that all price movement (in the absence of change in fundamental information) is random (i.e. non-trending), many studies have shown a marked tendency for the stock market to trend over time periods of weeks or longer. Various explanations for such large and apparently non-random price movements have been promulgated. For instance, some research has shown that changes in estimated risk, and the use of certain strategies, such as stop-loss limits and value at risk limits, "theoretically could" cause financial markets to overreact. But the best explanation seems to be that the distribution of stock market prices is non-Gaussian (in which case EMH, in any of its current forms, would not be strictly applicable).


title: Stock market

text: Other research has shown that psychological factors may result in "exaggerated" (statistically anomalous) stock price movements (contrary to EMH which assumes such behaviors 'cancel out'). Psychological research has demonstrated that people are predisposed to 'seeing' patterns, and often will perceive a pattern in what is, in fact, just "noise", e.g. seeing familiar shapes in clouds or ink blots. In the present context, this means that a succession of good news items about a company may lead investors to overreact positively, driving the price up. A period of good returns also boosts the investors' self-confidence, reducing their (psychological) risk threshold.


title: Stock market

text: Another phenomenon—also from psychology—that works against an objective assessment is "group thinking". As social animals, it is not easy to stick to an opinion that differs markedly from that of a majority of the group. An example with which one may be familiar is the reluctance to enter a restaurant that is empty; people generally prefer to have their opinion validated by those of others in the group.


title: Stock market

text: In one paper the authors draw an analogy with gambling. In normal times the market behaves like a game of roulette; the probabilities are known and largely independent of the investment decisions of the different players. In times of market stress, however, the game becomes more like poker (herding behavior takes over). The players now must give heavy weight to the psychology of other investors and how they are likely to react psychologically.


title: Stock market

text: Stock markets play an essential role in growing industries that ultimately affect the economy through transferring available funds from units that have excess funds (savings) to those who are suffering from funds deficit (borrowings) (Padhi and Naik, 2012). In other words, capital markets facilitate funds movement between the above-mentioned units. This process leads to the enhancement of available financial resources which in turn affects the economic growth positively.


title: Stock market

text: Economic and financial theories argue that stock prices are affected by macroeconomic trends. Macroeconomic trends include such as changes in GDP, unemployment rates, national income, price indices, output, consumption, unemployment, inflation, saving, investment, energy, international trade, immigration, productivity, aging populations, innovations, international finance. increasing corporate profit, increasing profit margins, higher concentration of business, lower company income, less vigorous activity, less progress, lower investment rates, lower productivity growth, less employee share of corporate revenues, decreasing Worker to Beneficiary ratio (year 1960 5:1, year 2009 3:1, year 2030 2.2:1), increasing female to male ratio college graduates.


title: Stock market

text: Many different academic researchers have stated that companies with low P/E ratios and smaller-sized companies have a tendency to outperform the market. Research has shown that mid-sized companies outperform large cap companies, and smaller companies have higher returns historically.


title: Stock market

text: Sometimes, the market seems to react irrationally to economic or financial news, even if that news is likely to have no real effect on the fundamental value of securities itself. However, this market behaviour may be more apparent than real, since often such news was anticipated, and a counter reaction may occur if the news is better (or worse) than expected. Therefore, the stock market may be swayed in either direction by press releases, rumors, euphoria and mass panic.


title: Stock market

text: Over the short-term, stocks and other securities can be battered or bought by any number of fast market-changing events, making the stock market behavior difficult to predict. Emotions can drive prices up and down, people are generally not as rational as they think, and the reasons for buying and selling are generally accepted.


title: Stock market

text: Behaviorists argue that investors often behave "irrationally" when making investment decisions thereby incorrectly pricing securities, which causes market inefficiencies, which, in turn, are opportunities to make money. However, the whole notion of EMH is that these non-rational reactions to information cancel out, leaving the prices of stocks rationally determined.


title: Stock market

text: A stock market crash is often defined as a sharp dip in share prices of stocks listed on the stock exchanges. In parallel with various economic factors, a reason for stock market crashes is also due to panic and investing public's loss of confidence. Often, stock market crashes end speculative economic bubbles.


title: Stock market

text: There have been famous stock market crashes that have ended in the loss of billions of dollars and wealth destruction on a massive scale. An increasing number of people are involved in the stock market, especially since the social security and retirement plans are being increasingly privatized and linked to stocks and bonds and other elements of the market. There have been a number of famous stock market crashes like the Wall Street Crash of 1929, the stock market crash of 1973–4, the Black Monday of 1987, the Dot-com bubble of 2000, and the Stock Market Crash of 2008.


title: Stock market

text: One of the most famous stock market crashes started October 24, 1929, on Black Thursday. The Dow Jones Industrial Average lost 50% during this stock market crash. It was the beginning of the Great Depression.


title: Stock market

text: Another famous crash took place on October 19, 1987 – Black Monday. The crash began in Hong Kong and quickly spread around the world.


title: Stock market

text: By the end of October, stock markets in Hong Kong had fallen 45.5%, Australia 41.8%, Spain 31%, the United Kingdom 26.4%, the United States 22.68%, and Canada 22.5%. Black Monday itself was the largest one-day percentage decline in stock market history – the Dow Jones fell by 22.6% in a day. The names "Black Monday" and "Black Tuesday" are also used for October 28–29, 1929, which followed Terrible Thursday—the starting day of the stock market crash in 1929.


title: Stock market

text: The crash in 1987 raised some puzzles – main news and events did not predict the catastrophe and visible reasons for the collapse were not identified. This event raised questions about many important assumptions of modern economics, namely, the theory of rational human conduct, the theory of market equilibrium and the efficient-market hypothesis. For some time after the crash, trading in stock exchanges worldwide was halted, since the exchange computers did not perform well owing to enormous quantity of trades being received at one time. This halt in trading allowed the Federal Reserve System and central banks of other countries to take measures to control the spreading of worldwide financial crisis. In the United States the SEC introduced several new measures of control into the stock market in an attempt to prevent a re-occurrence of the events of Black Monday.


title: Stock market

text: This marked the beginning of the Great Recession. Starting in 2007 and lasting through 2009, financial markets experienced one of the sharpest declines in decades. It was more widespread than just the stock market as well. The housing market, lending market, and even global trade experienced unimaginable decline. Sub-prime lending led to the housing bubble bursting and was made famous by movies like The Big Short where those holding large mortgages were unwittingly falling prey to lenders. This saw banks and major financial institutions completely fail in many cases and took major government intervention to remedy during the period. From October 2007 to March 2009, the S&P 500 fell 57% and wouldn't recover to its 2007 levels until April 2013.


title: Stock market

text: The 2020 stock market crash was a major and sudden global stock market crash that began on 20 February 2020 and ended on 7 April. This market crash was due to the sudden outbreak of the global pandemic, COVID-19. The crash ended with a new deal that had a positive impact on the market.


title: Stock market

text: Since the early 1990s, many of the largest exchanges have adopted electronic 'matching engines' to bring together buyers and sellers, replacing the open outcry system. Electronic trading now accounts for the majority of trading in many developed countries. Computer systems were upgraded in the stock exchanges to handle larger trading volumes in a more accurate and controlled manner. The SEC modified the margin requirements in an attempt to lower the volatility of common stocks, stock options and the futures market. The New York Stock Exchange and the Chicago Mercantile Exchange introduced the concept of a circuit breaker. The circuit breaker halts trading if the Dow declines a prescribed number of points for a prescribed amount of time. In February 2012, the Investment Industry Regulatory Organization of Canada (IIROC) introduced single-stock circuit breakers.


title: Stock market

text: The movements of the prices in global, regional or local markets are captured in price indices called stock market indices, of which there are many, e.g. the S&P, the FTSE, the Euronext indices and the NIFTY & SENSEX of India. Such indices are usually market capitalization weighted, with the weights reflecting the contribution of the stock to the index. The constituents of the index are reviewed frequently to include/exclude stocks in order to reflect the changing business environment.


title: Stock market

text: Financial innovation has brought many new financial instruments whose pay-offs or values depend on the prices of stocks. Some examples are exchange-traded funds (ETFs), stock index and stock options, equity swaps, single-stock futures, and stock index futures. These last two may be traded on futures exchanges (which are distinct from stock exchanges—their history traces back to commodity futures exchanges), or traded over-the-counter. As all of these products are only "derived" from stocks, they are sometimes considered to be traded in a (hypothetical) derivatives market, rather than the (hypothetical) stock market.


title: Stock market

text: Stock that a trader does not actually own may be traded using short selling; margin buying may be used to purchase stock with borrowed funds; or, "derivatives" may be used to control large blocks of stocks for a much smaller amount of money than would be required by outright purchase or sales.


title: Stock market

text: In short selling, the trader borrows stock (usually from his brokerage which holds its clients shares or its own shares on account to lend to short sellers) then sells it on the market, betting that the price will fall. The trader eventually buys back the stock, making money if the price fell in the meantime and losing money if it rose. Exiting a short position by buying back the stock is called "covering". This strategy may also be used by unscrupulous traders in illiquid or thinly traded markets to artificially lower the price of a stock. Hence most markets either prevent short selling or place restrictions on when and how a short sale can occur. The practice of naked shorting is illegal in most (but not all) stock markets.


title: Stock market

text: In margin buying, the trader borrows money (at interest) to buy a stock and hopes for it to rise. Most industrialized countries have regulations that require that if the borrowing is based on collateral from other stocks the trader owns outright, it can be a maximum of a certain percentage of those other stocks' value. In the United States, the margin requirements have been 50% for many years (that is, if you want to make a $1000 investment, you need to put up $500, and there is often a maintenance margin below the $500).


title: Stock market

text: A margin call is made if the total value of the investor's account cannot support the loss of the trade. (Upon a decline in the value of the margined securities additional funds may be required to maintain the account's equity, and with or without notice the margined security or any others within the account may be sold by the brokerage to protect its loan position. The investor is responsible for any shortfall following such forced sales.)


title: Stock market

text: Regulation of margin requirements (by the Federal Reserve) was implemented after the Crash of 1929. Before that, speculators typically only needed to put up as little as 10 percent (or even less) of the total investment represented by the stocks purchased. Other rules may include the prohibition of "free-riding:" putting in an order to buy stocks without paying initially (there is normally a three-day grace period for delivery of the stock), but then selling them (before the three-days are up) and using part of the proceeds to make the original payment (assuming that the value of the stocks has not declined in the interim).


title: Stock market

text: Many strategies can be classified as either fundamental analysis or technical analysis. Fundamental analysis refers to analyzing companies by their financial statements found in SEC filings, business trends, and general economic conditions. Technical analysis studies price actions in markets through the use of charts and quantitative techniques to attempt to forecast price trends based on historical performance, regardless of the company's financial prospects. One example of a technical strategy is the Trend following method, used by John W. Henry and Ed Seykota, which uses price patterns and is also rooted in risk management and diversification.


title: Stock market

text: Additionally, many choose to invest via passive index funds. In this method, one holds a portfolio of the entire stock market or some segment of the stock market (such as the S&P 500 Index or Wilshire 5000). The principal aim of this strategy is to maximize diversification, minimize taxes from realizing gains, and ride the general trend of the stock market to rise.


title: Stock market

text: Responsible investment emphasizes and requires a long-term horizon on the basis of fundamental analysis only, avoiding hazards in the expected return of the investment. Socially responsible investing is another investment preference.


title: Stock market

text: Taxation is a consideration of all investment strategies; profit from owning stocks, including dividends received, is subject to different tax rates depending on the type of security and the holding period. Most profit from stock investing is taxed via a capital gains tax. In many countries, the corporations pay taxes to the government and the shareholders once again pay taxes when they profit from owning the stock, known as "double taxation".


title: The Leftovers (TV series)

text: The Leftovers is an American supernatural drama television series created by Damon Lindelof and Tom Perrotta, that aired on HBO from June 29, 2014, to June 4, 2017. Based on Perrotta's 2011 novel of the same name, the series begins three years after the "Sudden Departure", a global event that resulted in 2% of the world's population disappearing. The lives of police chief Kevin Garvey (Justin Theroux) and his family, along with grieving widow Nora Durst (Carrie Coon) and her brother, Reverend Matt Jamison (Christopher Eccleston), are the focal points of the series as they struggle to adjust to life after the Departure.


title: The Leftovers (TV series)

text: The pilot was written by Lindelof and Perrotta and directed by Peter Berg. The series stars an ensemble cast led by Theroux and features Amy Brenneman, Christopher Eccleston, Liv Tyler, Chris Zylka, Margaret Qualley, Carrie Coon, Ann Dowd, Regina King, Jovan Adepo, Kevin Carroll, Janel Moloney, and Scott Glenn. The series was renewed for a second season, which premiered on October 4, 2015, and concluded December 6, 2015. On December 10, 2015, at Lindelof's request to be able to conclude the series, HBO renewed it for a third and final season, which premiered on April 16, 2017, and concluded on June 4, 2017. Over the course of the series, 28 episodes aired over three seasons.


title: The Leftovers (TV series)

text: The first season received mostly positive reviews. However, the second and third seasons were highly acclaimed, with many critics referring to "The Leftovers" as one of the greatest television series of all time, with particular praise for its writing, directing, acting (particularly Theroux’s and Coon's) and thematic depth. The musical score composed by Max Richter also attracted critical praise. Despite receiving average Nielsen ratings throughout its run, the series has developed a cult following. The series has been compared favorably to "Lost", a previous series co-created by Lindelof.


title: The Leftovers (TV series)

text: "The Leftovers" starts three years after a global event called the "Sudden Departure", the inexplicable, simultaneous disappearance of 140 million people, 2% of the world's population, on October 14, 2011. Following that event, mainstream religions declined, and a number of cults emerged, most notably the Guilty Remnant, a group of white-clothed, chain-smoking nihilists, and a cult led by Holy Wayne, a man who views himself as the Second Coming of Jesus Christ.


title: The Leftovers (TV series)

text: The first season revolves around the Garvey family and their acquaintances in a fictionalized version of the town of Mapleton, New York. Kevin Garvey Jr. is the chief of police. His wife, Laurie, has joined the Guilty Remnant. Their son, Tommy, has left home to become a follower of Holy Wayne, and their daughter, Jill, is acting out. Meanwhile, grieving widow Nora Durst and her brother, Reverend Matt Jamison, struggle to deal with their respective traumas while adjusting to life post-Departure. It also follows Meg Abbott, a woman who is slowly seduced by the Mapleton faction of the Guilty Remnant, led by Patti Levin. These characters' lives intertwine and collide as they find themselves in the middle of an ongoing conflict between the Guilty Remnant and the townspeople of Mapleton.


title: The Leftovers (TV series)

text: In the second season, the location shifts from Mapleton to the fictional town of Jarden, Texas, where not a single citizen was lost in the Sudden Departure. The Murphy family becomes a key focal point of the season. The patriarch, John, is the chief firefighter of the town, also acting as a vigilante deterrent of people exploiting Jarden’s “miracle.” His wife, Erika, is a doctor. Their son, Michael, is an aspiring pastor and their daughter, Evie, is a high school student with epilepsy. The Garvey family, Nora, and Matt move to Jarden at a time which coincides with an incident that leads to the disappearance of three young girls, followed by mass panic and chaos that threatens the town's safety and forces the Garvey and Murphy families to confront their inner demons.


title: The Leftovers (TV series)

text: The third and final season unfolds three years later, in 2018, starting 14 days before the seventh anniversary of the Sudden Departure. The setting of the third season moves between Jarden and Victoria, Australia, as most of the lead characters—particularly the Garvey and Murphy families—undergo emotional journeys that make them reflect upon their lives, their beliefs, and the events they have encountered in the previous two seasons. Kevin's father, the mentally ill former chief of police of Mapleton, is also a main focus in the final season as he embarks on a spiritual journey to fulfill a cryptic purpose, and eventually crosses paths with the other members of the Murphy and Garvey families.


title: The Leftovers (TV series)

text: HBO acquired rights for series development with Perrotta attached as writer/executive producer and Ron Yerxa and Albert Berger as executive producers in August 2011, shortly before the book came out.


title: The Leftovers (TV series)

text: Damon Lindelof had reportedly been a fan of Perrotta's earlier novels and had first learned of the book from a positive review by Stephen King in "The New York Times" in August 2011. In June 2012, Lindelof announced he would be developing the series alongside Perrotta. He served as the series' showrunner.


title: The Leftovers (TV series)

text: In February 2013, HBO ordered a pilot and, in September, ordered a 10-episode first season. "The Leftovers" is the first series HBO acquired from an outside studio that it did not produce in-house.


title: The Leftovers (TV series)

text: The first season covers the entirety of the book; the second and third seasons are completely original material. In April 2015, it was reported that the setting for the second season would shift from Mapleton, New York to a small town in Texas. The series shifted filming locations from New York to Austin, Texas, with nearby Lockhart serving as the main street of fictional Jarden, Texas, when principal photography commenced in late April. For the second season, which features several changes, including cast, location, and storylines; Lindelof cited "The Wire" and "Friday Night Lights" as influences.


title: The Leftovers (TV series)

text: The final season began principal photography in early May 2016, in Austin. In June 2016, the production moved to Melbourne, Victoria, Australia, where it filmed the remainder of the series and completed post-production. On the move to Melbourne, Lindelof said, "We're immensely grateful for the opportunity to try something that looks and feels different from the preceding seasons and we absolutely cannot wait to bring our story to its conclusion down under." It was also confirmed that the season would have a shortened 8-episode run.


title: The Leftovers (TV series)

text: In June 2013, casting announcements began. Justin Theroux, Liv Tyler, Christopher Eccleston, Ann Dowd, Amanda Warren, Michael Gaston, and Carrie Coon were announced to star in the pilot.


title: The Leftovers (TV series)

text: For the second season, eight of the 14 main cast members from season one returned, while Emily Meade, Amanda Warren, Annie Q., Max Carver, Charlie Carver and Michael Gaston did not. In April 2015, casting began for a family comprising ex-convict John Murphy; his hearing-impaired doctor wife, Erika; and their teenage children Evie, an outgoing athlete, and Michael, a pious Christian. The roles of John, Erika, and Michael are portrayed by Kevin Carroll, Regina King and Jovan Adepo, respectively, all as series regulars. Darius McCrary was cast in a recurring role as Isaac Rayney, John's friend and a palm reader. Steven Williams was cast in a recurring role, playing Virgil, a confidant of Kevin's. Janel Moloney, who had a recurring role in the first season as Mary Jamison, was promoted to a regular cast member in season two.


title: The Leftovers (TV series)

text: For the third season, it was confirmed in May 2016 that the entire main cast from the second season would return, with the exception of Dowd, and that Scott Glenn and Jasmin Savoy Brown had been promoted to series regulars. Glenn is credited as part of the main cast for the five season 3 episodes in which he appears; Brown ultimately remained as a recurring guest star, appearing in three episodes of the season. Lindsay Duncan joined the cast on December 6, 2016, also as a recurring guest star. Duncan appears in five episodes of the season.


title: The Leftovers (TV series)

text: Several cast members did not continue in a regular capacity during season 3, but retain main cast credit for the episodes in which they feature. Liv Tyler appears in one scene in the first episode, and returns for one subsequent appearance in episode 7. Ann Dowd also returns to the main cast in episode 7 only. Margaret Qualley appears in the season's first episode only, with one subsequent voice cameo. Regina King appears in episode 2 only, and Janel Moloney features in two episodes. Chris Zylka appears for the final time in episode 2, making only one subsequent voice cameo, but retains his credit as a main cast member for the entire season. Additionally, season 1 main cast members Michael Gaston and Annie Q. return as guest stars.


title: The Leftovers (TV series)

text: The main title from the first season uses "The Leftovers (Main Title Theme)", an original piece of music by composer Max Richter, accompanied by images like a fresco in the style of the Sistine Chapel. The second season uses "Let the Mystery Be" by Iris DeMent. In addition, the opening changes to one that shows images of pictures and people who were departed missing from them and in their place is various images of earth-related phenomena like rain, clouds, aurora borealis and lightning. Season 3 retains the opening from Season 2 but with a different theme song for each episode, including reprises of the Season 1 main title theme and "Let the Mystery Be" in episodes seven and eight respectively. This is because Damon Lindelof wants to "thematically introduce the episode to come" with different title music for each episode.


title: The Leftovers (TV series)

text: Season one of "The Leftovers" received mostly positive reviews from critics. Metacritic scored season one 65 out of 100, based on 42 critics, indicating "generally favorable reviews". Rotten Tomatoes scored the season 82%, based on 182 reviews, with an average rating of 7.65/10. The site's critical consensus reads, "Its dour tone and self-seriousness may make for somber viewing, but "The Leftovers" is an artfully crafted, thought-provoking drama that aims high and often hits its mark." IGN reviewer Matt Fowler gave consistently high scores to all the season one episodes, including two perfect 10 scores for "Two Boats and a Helicopter" and the season finale "The Prodigal Son Returns." He then gave the entire first season a review score of 9.4 out of 10, particularly praising the character-centric episodes, Max Richter's score and the performances, particularly Carrie Coon's.


title: The Leftovers (TV series)

text: Season two received critical acclaim. On Metacritic, it has a score of 80 out of 100 based on 22 reviews, indicating "generally favorable reviews". Rotten Tomatoes gave the second season a rating of 94% with an average score of 8.8 out of 10 based on 164 critic reviews, with the critical consensus ""The Leftovers" continues to be unpredictable and provocative in season two with its new location, though the inexplicable circumstances will still frustrate many viewers." Alan Sepinwall of HitFix gave it an "A" grade and wrote that ""The Leftovers" is still TV's best drama as season 2 begins"; it has "tighter focus, but same powerful, immersive experience". In her five out of five star review, Emily St. James of "Vox" wrote: "It's a show that wants to provoke a reaction in you, whether it's admiration, hatred, or just bafflement. It's HBO's best drama—and thus must-see TV."


title: The Leftovers (TV series)

text: The third season has received unanimous acclaim from critics. On Metacritic, it has a score of 98 out of 100 based on 17 reviews, indicating "universal acclaim". On Rotten Tomatoes, it has a 99% rating with an average score of 9.35 out of 10 based on 189 reviews with the critical consensus "With reliably ambitious storytelling and outstanding performances from its cast, Season 3 of "The Leftovers" approaches the series' conclusion as thoughtfully, purposefully, and confidently as it began." Maureen Ryan of "Variety" wrote the final season "is spectacular, in every sense of that word." "The Leftovers" was ranked as the best TV series of 2017 according to Metacritic. Alan Sepinwall placed season three first on his list of the best TV shows of 2017, an accolade he had awarded to both previous seasons in their respective years. He said "this has been my show of the year — of the decade, maybe, depending on how we count things like "Mad Men" and "Breaking Bad" that debuted in the '00s"; he went on to say "the eight-episode final season was a miracle".


title: The Leftovers (TV series)

text: According to Metacritic's aggregate of critics' decade-end lists, "The Leftovers" was the highest ranked show of the 2010s.


title: The Leftovers (TV series)

text: The first season was released on Blu-ray and DVD in region 1 on October 6, 2015. The set contains two audio commentaries and four behind-the-scenes featurettes. The second season was released on Blu-ray and DVD on February 9, 2016. The third season's DVD format was released on October 10, 2017 while the Blu-ray format was released by the Warner Archive Collection.


title: Black Sun (symbol)

text: The Black Sun () is a type of sun wheel (German: ) symbol originally employed in Nazi Germany and later by neo-Nazis. The symbol's design consists of twelve radial "sig" runes, similar to the symbols employed by the SS in their logo. It first appeared in Nazi Germany as a design element in a castle at Wewelsburg remodeled and expanded by the head of the SS, Heinrich Himmler, which he intended to be a center for the SS.


title: Black Sun (symbol)

text: Whether the design had a name or held any particular significance among the SS remains unknown. Its association with the occult originates with a 1991 German novel, "Die Schwarze Sonne von Tashi Lhunpo" (""The Black Sun of Tashi Lhunpo""), by the pseudonymous author Russell McCloud. The book links the Wewelsburg mosaic with the neo-Nazi concept of the "Black Sun", invented by former SS officer Wilhelm Landig as a substitute for the Nazi swastika.


title: Black Sun (symbol)

text: In 1933, Heinrich Himmler, the head of the SS, acquired Wewelsburg, a castle near Paderborn, Westphalia, Germany. Himmler intended to make the structure into a center for the SS, and between 1936 and 1942, Himmler ordered the building expanded and rebuilt for ceremonial purposes. As a product of Himmler's remodeling, twelve dark-green radially overlaid "sig" runes, such as those employed in the logo of the SS, appear on the white marble floor of the structure's north tower, the , or "General's Hall".


title: Black Sun (symbol)

text: The intended significance of the image remains unknown. Some scholars have suggested that the artist may have found inspiration from motifs found on decorative Merovingian disks ().


title: Black Sun (symbol)

text: In the late 20th century, the Black Sun symbol became widely used by neo-fascist, neo-Nazi, the far-right and white nationalists. The symbol often appears on extremist flags, t-shirts, posters, websites and in extremist publications associated with such groups. Modern far-right groups often refer to the symbol as the "sun wheel" or .


title: Black Sun (symbol)

text: The name "Black Sun" came into wider use after the publication of a 1991 occult thriller novel, "Die Schwarze Sonne von Tashi Lhunpo" ("The Black Sun of Tashi Lhunpo"), by the pseudonymous author Russell McCloud. The book links the Wewelsburg mosaic with the neo-Nazi concept of the "Black Sun", invented by former SS officer Wilhelm Landig as a substitute for the Nazi swastika and a symbol for a mystic energy source that was supposed to renew the Aryan race.


title: Black Sun (symbol)

text: A number of far-right groups and individuals have utilised the symbol in their propaganda, including the Christchurch mosque shooter Brenton Tarrant and Australian neo-Nazi group Antipodean Resistance, and the symbol was displayed by members of several extremist groups involved in the Unite the Right rally in Charlottesville, Virginia.


title: Black Sun (symbol)

text: Along with other symbols from the Nazi era such as the , the "Sig" Armanen rune, and the , the black sun is employed by some neo-Nazi adherents of Satanism. Scholar Chris Mathews writes:


title: Black Sun (symbol)

text: The Ukrainian Azov Regiment, founded in 2014, used the symbol as part of its logo. Political scientist Ivan Gomza argued in "Krytyka" that the illiberal connotations of the symbol in that logo are lost on most people in Ukraine, and the logo rather has an association with "a successful fighting unit that protects Ukraine." During the 2022 Russian invasion of Ukraine, NATO tweeted a photo of a female Ukrainian soldier for International Women's Day. The soldier wore a symbol on her uniform that "appears to be the black sun symbol". After receiving complaints from social media users, NATO removed the tweet and stated "The post was removed when we realised it contained a symbol that we could not verify as official".


title: Black Sun (symbol)

text: In May 2022, a mass shooting in Buffalo, New York occurred. The shooter, a white supremacist, wore the Black Sun symbol on his body armor and placed it on the front of his digital manifesto. Pro-Kremlin Telegram channels and influencers subsequently spread misinformation linking the shooter with the Azov Regiment and the Ukrainian nation more broadly. However, the shooter makes no reference to the Azov Regiment in his manifesto, and Ukraine receives only a single mention in a section plagiarized from an earlier mass shooter's manifesto that predates the Russian invasion of Ukraine.


title: Black Sun (symbol)

text: On 1 September 2022, a man with a Black Sun arm tattoo (Fernando André Sabag Montiel) attempted to assassinate Argentinian vice president Cristina Fernández de Kirchner.


title: Black Sun (symbol)

text: According to Freedom House initiative "Reporting Radicalism", the Black Sun is also used by some neo-pagan and satanist cults as an esoteric symbol, and it is also sometimes used erroneously as a fashionable, aesthetic symbol, or interpreted as representing something Scandinavian or ancient Slavic. The Anti-Defamation League notes that though the symbol is popular with white supremacists, Black Sun-like imagery features in many cultures, and should be analysed in the context it appears, and not necessarily interpreted as a sign of white supremacy or racism.


title: Lenovo

text: Lenovo Group Limited, often shortened to Lenovo ( , ), is a Chinese multinational technology company specializing in designing, manufacturing, and marketing consumer electronics, personal computers, software, business solutions, and related services. Products manufactured by the company include desktop computers, laptops, tablet computers, smartphones, workstations, servers, supercomputers, electronic storage devices, IT management software, and smart televisions. Its best-known brands include its ThinkPad business line of laptop computers (acquired from IBM), the IdeaPad, Yoga, and Legion consumer lines of laptop computers, and the IdeaCentre and ThinkCentre lines of desktop computers. As of 2021, Lenovo is the world's largest personal computer vendor by unit sales.


title: Lenovo

text: Lenovo was founded in Beijing on 1 November 1984 as Legend by a team of engineers led by Liu Chuanzhi and Danny Lui. Initially specializing in televisions, the company migrated towards manufacturing and marketing computers. Lenovo grew to become the market leader in China and raised nearly US$30 million in an initial public offering on the Hong Kong Stock Exchange. Since the 1990s, Lenovo has increasingly diversified from the personal computer market and made a number of corporate acquisitions, with the most notable being acquiring and integrating most of IBM's personal computer business and its x86-based server business as well as creating its own smartphone.


title: Lenovo

text: Lenovo has operations in over 60 countries and sells its products in around 180 countries. It was incorporated in Hong Kong, with global headquarters in Beijing, and operational centres in Singapore and Morrisville, North Carolina, US. It has research centres in Beijing, Chengdu, Yamato (Kanagawa Prefecture, Japan), Singapore, Shanghai, Shenzhen, and Morrisville, and also has Lenovo NEC Holdings, a joint venture with NEC that produces personal computers for the Japanese market.


title: Lenovo

text: Liu Chuanzhi and his group of ten experienced engineers, teaming up with Danny Lui, officially founded Lenovo in Beijing on November 1, 1984, with 200,000 yuan. The Chinese government approved Lenovo's incorporation on the same day. Jia Xufu (贾续福), one of the founders of Lenovo, indicated that the first meeting in preparation for starting the company was held on October 17 the same year. Eleven people, the entirety of the initial staff, attended. Each of the founders was a member of the Institute of Computing Technology of the Chinese Academy of Sciences (CAS). The 200,000 yuan used as start-up capital was approved by Zeng Maochao (曾茂朝). The name for the company agreed upon at this meeting was the Chinese Academy of Sciences Computer Technology Research Institute New Technology Development Company.


title: Lenovo

text: The organizational structure of the company was established in 1985 after the Chinese New Year. It included technology, engineering, administrative, and office departments. The group first attempted to import televisions but failed. It rebuilt itself as a company doing quality checks on computers. It also tried and failed to market a digital watch.


title: Lenovo

text: In May 1988, Lenovo placed its first recruitment advertisement on the front page of the "China Youth News". Such ads were quite rare in China at the time. Out of the 500 respondents, 280 were selected to take a written employment exam. 120 of these candidates were interviewed in person. Although interviewers initially only had authority to hire 16 people, 58 were given offers. The new staff included 18 people with graduate degrees, 37 with undergraduate degrees, and three students with no university-level education. Yang Yuanqing, the current chairman and CEO of Lenovo, was among that group.


title: Lenovo

text: Liu Chuanzhi received government permission to form a subsidiary in Hong Kong and to move there along with five other employees. Liu's father, already in Hong Kong along with Lui, furthered his son's ambitions through mentoring and facilitating loans. Liu moved to Hong Kong in 1988. To save money during this period, Liu and his co-workers walked instead of taking public transportation. To keep up appearances, they rented hotel rooms for meetings.


title: Lenovo

text: In 1990, Lenovo started to manufacture and market computers using its own brand name. Some of the company's early successes included the KT8920 mainframe computer. It also developed a circuit board that allowed IBM-compatible personal computers to process Chinese characters.


title: Lenovo

text: Lenovo (known at the time as Legend) became publicly traded after a 1994 Hong Kong IPO that raised nearly at per share. Prior to the IPO, many analysts were optimistic about Lenovo. On its first day of trading, the company's stock price hit a high of and closed at suggesting an initial under-valuing of the company. Proceeds from the offering were used to finance sales offices in Europe, North America and Australia, to expand and improve production and research and development, and to increase working capital.


title: Lenovo

text: By 1996, Lenovo was the market leader in China and began selling its own laptop. By 1998 it held 43 percent of the domestic computer market share in China, selling approximately one million computers.


title: Lenovo

text: Lenovo released its Tianxi () computer in 1998. Designed to make it easy for inexperienced Chinese consumers to use computers and access the internet, one of its most important features was a button that instantly connected users to the internet and opened the Web browser. It was co-branded with China Telecom and it was bundled with one year of Internet service. The Tianxi was released in 1998. It was the result of two years of research and development. It had a pastel-colored, shell-shaped case and a seven-port USB hub under its screen. As of 2000, the Tianxi was the best-selling computer in Chinese history. It sold more than 1,000,000 units in 2000 alone.


title: Lenovo

text: To fund its continued growth, Lenovo issued a secondary offering of 50 million shares on the Hong Kong market in March 2000 and raised about . It rebranded to the name Lenovo in 2003 and began making acquisitions to expand the company.


title: Lenovo

text: Lenovo acquired IBM's personal computer business in 2005, including the ThinkPad laptop and ThinkCentre desktop lines. Lenovo's acquisition of IBM's personal computer division accelerated access to foreign markets while improving both Lenovo's branding and technology. Lenovo paid for IBM's computer business and assumed an additional of IBM's debt. This acquisition made Lenovo the third-largest computer maker worldwide by volume.


title: Lenovo

text: Lenovo's purchase of the Think line from IBM also led to the creation of the IBM/Lenovo partnership which works together in the creation of Think-line of products sold by Lenovo.


title: Lenovo

text: About the purchase of IBM's personal computer division, Liu Chuanzhi said in 2012: "We benefited in three ways from the IBM acquisition. We got the ThinkPad brand, IBM's more advanced PC manufacturing technology and the company's international resources, such as its global sales channels and operation teams. These three elements have shored up our sales revenue in the past several years." The employees of the division, including those who developed ThinkPad laptops and Think Centre desktops, became employees of Lenovo.


title: Lenovo

text: Despite Lenovo acquiring the "Think" brand from IBM, IBM still plays a key indirect, background role in the design and production of the Think line of products. IBM today is responsible for overseeing servicing and repair centers and is considered an authorized distributor and refurbisher of the Think line of products produced by Lenovo.


title: Lenovo

text: IBM also acquired a 18.9% share of Lenovo in 2005 as part of Lenovo's purchase of IBM's personal computing division. In the years following the deal IBM sold their stake in Lenovo, with the final sale in 2011 completing their divestment.


title: Lenovo

text: Mary Ma, Lenovo's chief financial officer from 1990 to 2007, was in charge of investor relations. Under her leadership, Lenovo successfully integrated Western-style accountability into its corporate culture. Lenovo's emphasis on transparency earned it a reputation for the best corporate governance among mainland Chinese firms. While Hong Kong-listed firms were only required to issue financial reports twice per year, Lenovo followed the international norm of issuing quarterly reports. Lenovo created an audit committee and a compensation committee with non-management directors. The company started roadshows twice per year to meet institutional investors. Ma organized the first-ever investor relations conference held in mainland China. The conference was held in Beijing in 2002 and televised on China Central Television (CCTV). Liu and Ma co-hosted the conference and both gave speeches on corporate governance.


title: Lenovo

text: Lenovo sold its smartphone and tablet division in 2008 for in order to focus on personal computers and then paid US$200 million to buy it back in November 2009. , the mobile division ranked third in terms of unit share in China's mobile handset market. Lenovo invested in a fund dedicated to providing seed funding for mobile application development for its LeGarden online app store. As of 2010, LeGarden had more than 1,000 programs available for the LePhone. At the same time, LeGarden counted 2,774 individual developers and 542 developer companies as members.


title: Lenovo

text: On January 27, 2011, Lenovo formed a joint venture to produce personal computers with Japanese electronics firm NEC. The companies said in a statement that they would establish a new company called Lenovo NEC Holdings, to be registered in the Netherlands. NEC received US$175 million in Lenovo stock. Lenovo was to own a 51% stake in the joint venture, while NEC would have 49%. Lenovo has a five-year option to expand its stake in the joint venture.


title: Lenovo

text: This joint venture was intended to boost Lenovo's worldwide sales by expanding its presence in Japan, a key market for personal computers. NEC spun off its personal computer business into the joint venture. As of 2010, NEC controlled about 20% of Japan's market for personal computers while Lenovo had a 5% share. Lenovo and NEC also agreed to explore cooperating in other areas such as servers and tablet computers.


title: Lenovo

text: Roderick Lappin, chairman of the Lenovo–NEC joint venture, told the press that the two companies will expand their co-operation to include the development of tablet computers.


title: Lenovo

text: In June 2011, Lenovo announced that it planned to acquire control of Medion, a German electronics manufacturing company. Lenovo said the acquisition would double its share of the German computer market, making it the third-largest vendor by sales (after Acer and Hewlett-Packard). The deal, which closed in the third quarter of the same year, was claimed by "The New York Times" as "the first in which a Chinese company acquired a well-known German company."


title: Lenovo

text: This acquisition will give Lenovo 14% of the German computer market. Gerd Brachmann, chairman of Medion, agreed to sell two-thirds of his 60 percent stake in the company. He will be paid in cash for 80 percent of the shares and will receive 20 percent in Lenovo stock. That would give him about one percent of Lenovo.


title: Lenovo

text: In September 2012, Lenovo agreed to acquire the Brazil-based electronics company Digibras, which sells products under the brand-name CCE, for a base price of 300 million reals (US$148 million) in a combination of stock and cash. An additional payment of 400 million reals was made dependent upon performance benchmarks. Prior to its acquisition of CCE, Lenovo already established a $30 million factory in Brazil, but Lenovo's management had felt that they needed a local partner to maximize regional growth. Lenovo cited their desire to take advantage of increased sales due to the 2014 World Cup that would be hosted by Brazil and the 2016 Summer Olympics and CCE's reputation for quality. Following the acquisition, Lenovo announced that its subsequent acquisitions would be concentrated in software and services.


title: Lenovo

text: In September 2012, Lenovo agreed to acquire the United States-based software company Stoneware, in its first software acquisition. The transaction was expected to close by the end of 2012; no financial details have been disclosed. Lenovo said that the company was acquired in order to gain access to new technology and that Stoneware is not expected to significantly affect earnings. More specifically, Stoneware was acquired to further Lenovo's efforts to improve and expand its cloud-computing services. For the two years prior to its acquisition, Stoneware partnered with Lenovo to sell its software. During this period Stoneware's sales doubled. Stoneware was founded in 2000. As of September 2012, Stoneware is based in Carmel, Indiana and has 67 employees.


title: Lenovo

text: Lenovo re-entered the smartphone market in 2012 and quickly became the largest vendor of smartphones in mainland China. Entry into the smartphone market was paired with a change of strategy from "the one-size-fits-all" to a diverse portfolio of devices. These changes were driven by the popularity of Apple's iPhone and Lenovo's desire to increase its market share in mainland China. Lenovo surpassed Apple Inc. to become the No. 2 provider of smartphones in the domestic Chinese market in 2012. However, with approximately 100 smartphone brands sold in China, this only equated to a 10.4% market share.


title: Lenovo

text: In May 2012, Lenovo announced an investment of US$793 million in the construction of a mobile phone manufacturing and R&D facility in Wuhan, Hubei.


title: Lenovo

text: In 2013, Lenovo created a joint venture with EMC named LenovoEMC. The venture took over Iomega's business and rebranded all of Iomega's products under the LenovoEMC brand, and designed products for small and medium-sized businesses that could not afford enterprise-class data storage. Lenovo has since retired all of the LenovoEMC products on their product page advising that the products are no longer available for purchase on lenovo.com.


title: Lenovo

text: IBM sold its x86-based server lines, including IBM System x and IBM Blade Center, to Lenovo in 2014. Lenovo says it will gain access to more enterprise customers, improve its profit margins, and develop a closer relationship with Intel, the maker of most server processors, through its acquisition of IBM's x86-based server business. On 1 October 2014, Lenovo closed its acquisition of IBM's server division, with the final price put at $2.1 billion. Lenovo said this acquisition came in at a price lower than the previously announced $2.3 billion partially because of a change in the value of IBM inventories. The deal has been already approved by Europe, China and the United States. The United States Department of Treasury Committee on Foreign Investment in the United States (CFIUS) was reportedly the last hurdle for Lenovo, since the United States has the strictest policies. According to Timothy Prickett-Morgan from Enterprise Tech, the deal still awaits "approval of regulators in China, the European Commission, and Canada".


title: Lenovo

text: After closing, Lenovo said that its goal was to become the world's largest maker of servers. Lenovo also announced plans to start integrating IBM's workforce. The acquisition added about 6,500 new employees to Lenovo. Lenovo said that it has no immediate intent to cut jobs. Lenovo said that positions in research and development and customer-facing roles such as marketing would be "100% protected", but expected "rationalization" of its supply chain and procurement.


title: Lenovo

text: On 29 January 2014, Google announced it would sell Motorola Mobility to Lenovo for US$2.91 billion. As of February 2014, Google owned about 5.94% of Lenovo's stock. The deal included smartphone lines like the Moto X, Moto G, Droid Turbo, and the future Motorola Mobility product roadmap, while Google retained the Advanced Technologies & Projects unit and all but 2,000 of the company's patents. Lenovo received royalty free licenses to all the patents retained by Google. Lenovo received approval from the European Union for its acquisition of Motorola in June 2014. The acquisition was completed on 30 October 2014. Motorola Mobility remained headquartered in Chicago, and continued to use the Motorola brand, but Liu Jun, president of Lenovo's mobile device business, became the head of the company.


title: Lenovo

text: In April 2014, Lenovo purchased a portfolio of patents from NEC related to mobile technology. These included over 3,800 patent families in countries around the world. The purchase included standards-essential patents for 3G and LTE cellular technologies and other patents related to smartphones and tablets.


title: Lenovo

text: In May 2015, Lenovo revealed a new logo at Lenovo Tech World in Beijing, with the slogan "Innovation Never Stands Still" (). Lenovo's new logo, created by Saatchi, can be changed by its advertising agencies and sales partners, within restrictions, to fit the context. It has a lounging "e" and is surrounded by a box that can be changed to use a relevant scene, solid color, or photograph. Lenovo's Chief Marketing Officer David Roman said, "When we first started looking at it, it wasn't about just a change in typography or the look of the logo. We asked 'If we really are a net-driven, customer-centric company, what should the logo look like?' We came up with the idea of a digital logo first [...] designed to be used on the internet and adaptable to context."


title: Lenovo

text: In early June 2015, Lenovo announced plans to sell up to US$650 million in five-year bonds denominated in Chinese yuan. The bonds were sold in Hong Kong with coupon ranging from 4.95% to 5.05%. This is only the second sale of bonds in Lenovo's history. Financial commentators noted that Lenovo was paying a premium to list the bonds in yuan given relatively low costs for borrowing in US dollars.


title: Lenovo

text: Lenovo said that its x86 servers will be available to all its channel partners. Lenovo plans to cut prices on x86 products in order to gain market share. This goes in alliance with IBM's vision of the future around cloud technologies and their own POWER processor architecture.


title: Lenovo

text: Lenovo's acquisition of IBM's businesses is arguably one of the greatest case studies on merging massive international enterprises. Though this acquisition in 2005 ultimately resulted in success, the integration of the businesses had a difficult and challenging beginning. Lenovo had employees from different cultures, different backgrounds, and different languages. These differences caused misunderstandings, hampering trust and the ability to build a new corporate culture. At the end of its first two years, Lenovo Group had met many of its original challenges, including integrating two disparate cultures in the newly formed company, maintaining the Think brand image for quality and innovation, and improving supply chain and manufacturing efficiencies. However, Lenovo had failed to meet a key objective of the merger: leveraging the combined strength of the two companies to grow volume and market share. In order to achieve success, Lenovo embraced diversify at multiple levels- business model, culture, and talent. By 2015, Lenovo grew into the world's number 1 PC maker, number 3 smartphone manufacturer and number 3 in the production of tablet computers.


title: Lenovo

text: In March 2017, Lenovo announced it was partnering with Fort Lauderdale, Florida-based software storage virtualization company DataCore to add DataCore's parallel I/O-processing software to Lenovo's storage devices. The servers were reportedly designed to outperform Storage Area Network (SAN) SAN arrays.


title: Lenovo

text: In 2017, Lenovo formed a joint venture with Fujitsu and the Development Bank of Japan (DBJ). In the joint venture, Fujitsu would sell Lenovo a 51% stake in Fujitsu Client Computing Limited. DBJ would acquire a 5% stake.


title: Lenovo

text: In September 2018, Lenovo and NetApp announced about strategic partnership and joint venture in China. As part of strategic partnership Lenovo started two new lines of storage systems: DM-Series and DE-Series. Both storage systems using Lenovo hardware and NetApp software: DM-Series using ONTAP OS and DE-Series SANtricity OS.


title: Lenovo

text: In 2020, Lenovo became a preferred data center innovation provider for DreamWorks Animation starting with Trolls World Tour.


title: Lenovo

text: On 12 January 2021, Lenovo filed an application to issue Chinese depositary receipts, representing newly issued ordinary shares, and to list them on the Science and Technology Innovation Board of the Shanghai Stock Exchange.


title: Lenovo

text: In April 2021, Lenovo was reorganized into three divisions: The Intelligent Devices Group for PCs, Smartphones, Smart Collaboration products, Augmented and Virtual Reality solutions and Internet of Things devices, the Infrastructure Solutions Group (formally known as Data Center Group) for smart infrastructure solutions, and the Solutions and Services Group focused on services and industry-specific products. That year, the company hit $60 billion in annual revenues.


title: Lenovo

text: On 8 October 2021, Lenovo withdrew its application to list on the Shanghai Stock Exchange just days after it had been accepted by the exchange, citing the possibility of the validity of financial information in its prospectus lapsing as the reason. The price of the company's shares on the Hong Kong Stock Exchange dropped by over 17% following the news, which was its biggest intraday decline in over a decade.


title: Lenovo

text: "Lenovo" is a portmanteau of "Le-" (from Legend) and "novo", Latin ablative for "new". The Chinese name () means "association" (as in "association of ideas"), "associative thinking", or "connected thinking". It also implies creativity. "Lianxiang" was first used to refer to a layout of Chinese typewriters in the 1950s organized into groups of common words and phrases rather than the standard dictionary layout.


title: Lenovo

text: For the first 20 years of its existence, the company's English name was "Legend". In 2002, Yang Yuanqing decided to abandon the Legend English name to expand beyond the Chinese home market. "Legend" was already in use worldwide by many businesses whose products and services may or may not have to do with technology, making it impossible to register in many jurisdictions outside China. In April 2003, the company publicly announced its new English name, "Lenovo", with an advertising campaign including huge billboards and primetime television ads. Lenovo spent 18 million RMB on an eight-week television advertising campaign. The billboards showed the Lenovo logo against blue sky with a slogan that read, "Transcendence depends on how you think." By the end of 2003, Lenovo had spent a total of 200 million RMB on rebranding.


title: Lenovo

text: Lenovo is a manufacturer of personal computers, smartphones, televisions, and wearable devices. Some of the company's earliest products included the KT8920 mainframe computer and a circuit board that allowed IBM-compatible personal computers to process Chinese characters. One of its first computers was the Tianxi (), released in 1998 in the Chinese market. It became the best selling computer in Chinese history in 2000.


title: Lenovo

text: Lenovo markets the ThinkPad, IdeaPad, Yoga, Legion and Xiaoxin (; Chinese market only) lines of laptops, as well as the IdeaCentre and ThinkCentre lines of desktops. It expanded significantly in 2005 through its acquisition of IBM's personal computer business, including its ThinkPad and ThinkCentre lines. As of January 2013, shipments of THINK-branded computers have doubled since Lenovo's takeover of the brand, with profit margins thought to be above 5%. Lenovo aggressively expanded the THINK brand away from traditional laptop computers in favor of tablets and hybrid devices such as the ThinkPad Tablet 2, ThinkPad Yoga, ThinkPad 8, ThinkPad Helix, and ThinkPad Twist; the shift came as a response to the growing popularity of mobile devices, and the release of Windows 8 in October 2012. Lenovo achieved significant success with this high-value strategy and in 2013 controlled more than 40% of the market for Windows computers priced above $900 in the United States.


title: Lenovo

text: The ThinkPad is a line of business-oriented laptop computers known for their boxy black design, modeled after a traditional Japanese "bento". The ThinkPad was originally an IBM product developed at the Yamato Facility in Japan by ; they have since been developed, manufactured and sold by both IBM and Lenovo after early 2005, following its acquisition of IBM's personal computer division. The ThinkPad has been used in space and were the only laptops certified for use on the International Space Station.


title: Lenovo

text: The ThinkCentre is a line of business-oriented desktop computers which was introduced in 2003 by IBM and since has been produced and sold by Lenovo since 2005. ThinkCentre computers typically include mid-range to high-end processors, options for discrete graphics cards, and multi-monitor support. Similar to the ThinkPad line of computers, there have been budget lines of ThinkCentre branded computers in the past. Some examples of this include: M55e series, A50 series, M72 series. These "budget" lines are typically "thin clients" however, meaning they are not standalone computers, rather, they are access points to a central server.


title: Lenovo

text: The ThinkServer product line began with the TS100 from Lenovo. The server was developed under agreement with IBM, by which Lenovo would produce single-socket and dual-socket servers based on IBM's xSeries technology. An additional feature of the server design was a support package aimed at small businesses. The focus of this support package was to provide small businesses with software tools to ease the process of server management and reduce dependence on IT support.


title: Lenovo

text: On June 20, 2017, Lenovo's Data Center Group relaunched the ThinkServer product line as ThinkSystem, which consisted of 17 new machine type models, in the catalog formate containing form factors such as Tower, 1U/2U, Blades, Dense and 4U Mission Critical Intel-based servers. Also within this relaunch contained a portfolio of Storage Arrays and of Fibre Channel SAN Switches and Directors. To further incorporate industry-leading partnerships into its portfolio, Lenovo struck an agreement with the processor company, AMD, to be able to supply customers with a choice of options between both Intel and AMD powered appliances. In August, 2019, the first two ThinkSystem platforms were introduced to the market containing a single AMD EPYC processor, the SR635 (1U) and the SR655 (2U). Again, in May 2020, Lenovo DCG further expanded its AMD offerings to incorporate 2-proc systems, the SR645 and the SR665, continuing tio exemplify its approach to being the Most Trusted Data Center Advisor in the market.


title: Lenovo

text: Lenovo ThinkStations are workstations designed for high-end computing. In 2008, IBM/Lenovo expanded the focus of its THINK brand to include workstations, with the ThinkStation S10 being the first model released.


title: Lenovo

text: High-end monitors are marketed under the ThinkVision name. ThinkVision displays share a common design language with other THINK devices such as the ThinkPad line of laptop computers and ThinkCentre line of desktop computers. At the 2014 International CES, Lenovo announced the ThinkVision Pro2840m, a 28-inch 4K display aimed at professionals. Lenovo also announced another 28-inch 4K touch-enabled device running Android that can function as an all-in-one PC or an external display for other devices.


title: Lenovo

text: At the 2016 International CES, Lenovo announced two displays with both USB-C and DisplayPort connectivity. The ThinkVision X24 Pro monitor is a 24-inch 1920 by 1080 pixel thin-bezel display that uses an IPS LCD panel. The ThinkVision X1 is a 27-inch 3840 by 2160 pixel thin-bezel display that uses a 10-bit panel with 99% coverage of the sRGB color gamut. The X24 includes a wireless charging base for mobile phones. The X1 is the first monitor to receive the TUV Eye-Comfort certification. Both monitors have HDMI 2.0 ports, support charging laptops, mobile phones, and other devices, and have Intel RealSense 3D cameras in order to support facial recognition. Both displays have dual-array microphones and 3-watt stereo speakers.


title: Lenovo

text: The IdeaPad line of consumer-oriented laptop computers was introduced in January 2008. The IdeaPad is the result of Lenovo's own research and development; Unlike the ThinkPad line, its design and branding were not inherited from IBM nor are they designed/developed by IBM.


title: Lenovo

text: The IdeaPad's design language differs markedly from the ThinkPad and has a more consumer-focused look and feel.


title: Lenovo

text: On September 21, 2016, Lenovo confirmed that their Yoga series is not meant to be compatible with Linux operating systems, that they know it is impossible to install Linux on some models, and that it is not supported. This came in the wake of media coverage of problems that users were having while trying to install Ubuntu on several Yoga models, including the 900 ISK2, 900 ISK For Business, 900S, and 710, which were traced back to Lenovo disabling and removing support for the AHCI storage mode for the device's Solid State Drive in the computer's BIOS, in favor of a RAID mode that is only supported by Windows 10 drivers that come with the system. Lenovo has since released an alternative firmware that has restored the AHCI mode to the drive controller to allow installation of Linux operating systems.


title: Lenovo

text: All IdeaCentres are all-in-one machines, combining processor and monitor into a single unit. The desktops were described by HotHardware as being "uniquely designed". The first IdeaCentre desktop, the IdeaCentre K210, was announced by Lenovo on 30 June 2008. While the IdeaCentre line consists only of desktops, it shares design elements and features with the IdeaPad line. One such feature was Veriface facial recognition technology.


title: Lenovo

text: At CES 2011, Lenovo announced the launch of four IdeaCentre desktops: the A320, B520, B320, and C205. In the autumn of 2012, the firm introduced the more powerful IdeaCentre A720, with a 27-inch touchscreen display and running Windows 8. With a TV tuner and HDMI in, the A720 can also serve as a multimedia hub or home theater PC.


title: Lenovo

text: In 2013, Lenovo added a table computer to the IdeaCentre line. The Lenovo IdeaCentre Horizon Table PC, introduced at the 2013 International CES is a 27-inch touchscreen computer designed to lay flat for simultaneous use by multiple people. Thanks to its use of Windows 8, the Horizon can also serve as a desktop computer when set upright.


title: Lenovo

text: Legion is a series of laptops and tablets from Lenovo targeting gaming performance. The first Legion brand laptops was revealed at CES 2017, the Legion Y520 and the Legion Y720. On June 6, 2017, a high-performance model, the Legion Y920, equipped with Intel's seventh-generation quad-core i7-7820HK and Nvidia GTX 1070 discrete graphics, was launched.


title: Lenovo

text: In 2020, Lenovo launched Legion 3, 5, and 7, where Legion 7 is the highest specification of the series.


title: Lenovo

text: As of January 2013, Lenovo only manufactured phones that use the Android operating system from Google. Numerous press reports indicated that Lenovo planned to release a phone running Windows Phone 8, According to J. D. Howard, a vice president at Lenovo's mobile division, the company would release a Windows Phone product if there is market demand.


title: Lenovo

text: Lenovo has implemented an aggressive strategy to replace Samsung Electronics as Mainland China market's top smartphone vendor. It has spent $793.5 million in Wuhan in order to build a plant that can produce 30 to 40 million phones per year. Data from Analysys International shows that Lenovo experienced considerable growth in smartphone sales in China during 2012. Specifically, it saw its market share increase to 14.2% during 2012's third quarter, representing an increase when compared to 4.8% in the same quarter of 2011. IDC analysts said that Lenovo's success is due to its "aggressive ramping-up and improvements in channel partnerships". Analysys International analyst Wang Ying wrote, "Lenovo possesses an obvious advantage over rivals in terms of sales channels." The company's CEO, Yang Yuanqing, said, "Lenovo does not want to be the second player ... we want to be the best. Lenovo has the confidence to outperform Samsung and Apple, at least in the Chinese market."


title: Lenovo

text: According to IHS iSuppli, Lenovo was a top-three smartphone maker in China with a 16.5% market share in the first quarter of 2012. According to a May report released by IDC Lenovo ranks fourth in the global tablet market by volume. As of November 2012, Lenovo was the second largest seller of mobile phones in China when measured by volume.


title: Lenovo

text: In May 2013, Lenovo CEO Yang Yuanqing indicated that the company had aimed to release smartphones in the United States within the next year. Later in October, Lenovo expressed interest in acquiring the Canadian smartphone maker BlackBerry Ltd. However, its attempt was reportedly blocked by the Government of Canada, citing security concerns due to the use of BlackBerry devices by prominent members of the government. An official stated that "we have been pretty consistent that the message is Canada is open to foreign investment and investment from China in particular but not at the cost of compromising national security".


title: Lenovo

text: In January 2014, Lenovo announced a proposed deal to acquire Motorola Mobility to bolster its plans for the U.S. market. Microsoft officially announced that Lenovo had become the hardware partner of Windows Phone platform at the Mobile World Congress 2014. In January 2016, Lenovo announced at CES that the company would be producing the first Project Tango phone.


title: Lenovo

text: Lenovo plus Motorola was the 3rd largest producer of smartphones by volume in the world between 2011 and 2014. Since Lenovo's acquisition of Motorola Mobility, the combined global market share of Lenovo plus Motorola has fallen from 7.2% in 2014 to 3.9% in the third quarter of 2016. A number of factors have been cited as the cause of this reduced demand, including the fact that Lenovo relied heavily on carriers to sell its phones, its phones lacked strong branding and unique features to distinguish them in the competitive Chinese market where a weak economy and saturated market is slowing demand and the culture clash between a more hierarchical PC company and the need to be nimble to sell rapidly-evolving smartphones. In response to the weak sales, Lenovo announced in August 2015 that it would lay off 3,200 employees, mostly in its Motorola smartphone business.


title: Lenovo

text: In the reorganization which followed, Lenovo was uncertain how to brand its Motorola smartphones. In November 2015, members of Lenovo management made statements that Lenovo would use the Motorola brand for all its smartphones. Then, in January 2016, Lenovo announced that it would be eliminating the Motorola brand in favor of "Moto by Lenovo". The company reversed course in March 2017 and announced that the Motorola brand name would be used in all regions in future products. "In 2016, we just finished transforming ourselves," Motorola Chairman and President Aymar de Lencquesaing said in an interview, "We have clarity on how we present ourselves."


title: Lenovo

text: In November 2011, Lenovo said it would soon unveil a smart television product called LeTV, expected for release in the first quarter of 2012. "The PC, communications and TV industries are currently undergoing a "smart" transformation. In the future, users will have many smart devices and will desire an integrated experience of hardware, software and cloud services." Liu Jun, president of Lenovo's mobile-Internet and digital-home-business division. In June 2013 Lenovo announced a partnership with Sharp to produce smart televisions. In March 2014, Lenovo announced that it projected smart television sales surpassing one million units for 2014. The same month Lenovo released its flagship S9 Smart TV.


title: Lenovo

text: Rumors that Lenovo was developing a wearable device were confirmed in October 2014 after the company submitted a regulatory finding to the Federal Communications Commission. The device, branded a "Smartband", has a battery life of seven days. It has an optical heart-rate monitor and can be used to track distance and time spent running and calories burned. It can also notify the user of incoming calls and texts. It can also unlock computers without the use of a password. The Smartband went on sale in October 2014. Lenovo started offering the device for sale on its website without a formal product announcement.


title: Lenovo

text: In 2015 Lenovo launched a strategic cooperation with IngDan (), a subsidiary of Chinese electronics e-commerce company Cogobuy Group, to penetrate into the intelligent hardware sector.  Lenovo wanted to procure High-Tech hardware in the then newly emerging Internet of Things (IoT) economy and formed a strategic partnership with Cogobuy in which it previously primarily bought IC components from. Cogobuy's supply chain was utilised by Lenovo to procure consumer devices and bridge gaps in their proprietary hardware and software development. At the IFA 2018, Lenovo launched several smart home products.


title: Lenovo

text: At the Mobile World Congress in 2016, Lenovo introduced Lenovo Connect, a wireless roaming service. This service works across devices, networks, and borders for customers in China and EMEA (Europe, the Middle East and Africa). Lenovo Connect eliminates the need to buy new SIM cards when crossing borders. Lenovo Connect started service for phones and select ThinkPad laptops in China in February 2016.


title: Lenovo

text: Lenovo's principal facilities are in Beijing, Singapore, and Morrisville, North Carolina, United States, with research centres in Beijing, Singapore, Morrisville, Shanghai, Shenzhen, Xiamen, Chengdu, Nanjing, Wuhan and Yamato (Kanagawa Prefecture, Japan). Lenovo operates manufacturing facilities in Chengdu and Hefei in China, and in Japan. A global flagship store opened in Beijing in February 2013.


title: Lenovo

text: Lenovo's manufacturing operations are a departure from the usual industry practice of outsourcing to contract manufacturers. Lenovo instead focuses on vertical integration in order to avoid excessive reliance on original equipment manufacturers and to keep down costs. Speaking on this topic, Yang Yuanqing said, "Selling PCs is like selling fresh fruit. The speed of innovation is very fast, so you must know how to keep up with the pace, control inventory, to match supply with demand and handle very fast turnover." Lenovo benefited from its vertical integration after flooding affected hard-drive manufacturers in Thailand in 2011, as the company could continue manufacturing operations by shifting production towards products for which hard drives were still available.


title: Lenovo

text: Lenovo began to emphasize vertical integration after a meeting in 2009 in which CEO Yang Yuanqing, and the head of Lenovo's supply chain, analyzed the costs versus the benefits of in-house manufacturing, and decided to make at least 50% of Lenovo's manufacturing in-house. Lenovo Chief Technology Officer George He said that vertical integration is having an important role in product development. He stated, "If you look at the industry trends, most innovations for" PCs, smartphones, tablets and smart TVs are related to innovation of key components—display, battery and storage. Differentiation of key parts is so important. So we started investing more ... and working very closely with key parts suppliers." Previously, lack of integration due to numerous foreign acquisitions and an excessive number of "key performance indicators" (KPIs) was making Lenovo's expansion expensive and creating unacceptably slow delivery times to end-customers. Lenovo responded by reducing the number of KPIs from 150 to 5, offering intensive training to managers, and working to create a global Lenovo culture. Lenovo also doubled-down on vertical integration and manufacturing near target markets in order to cut costs at time when its competitors were making increased use of outsourcing off-shoring. By 2013, Lenovo ranked 20th on Gartner's list of top 50 supply chains, whereas in 2010 the company was unranked.


title: Lenovo

text: In 2012, Lenovo partially moved production of its ThinkPad line of computers to Japan. ThinkPads will be produced by NEC in Yamagata Prefecture. , president of Lenovo Japan, said, "As a Japanese, I am glad to see the return to domestic production and the goal is to realize full-scale production as this will improve our image and make the products more acceptable to Japanese customers."


title: Lenovo

text: In October 2012, Lenovo announced that it would start assembling computers in Whitsett, North Carolina. Production of desktop and laptop computers, including the ThinkPad Helix began in January 2013. , 115 workers were employed at this facility. Lenovo has been in Whitsett since 2008, where it also has centers for logistics, customer service, and return processing.


title: Lenovo

text: In 2015, Lenovo and Hong Kong Cyberport Management Company Limited, a government-sponsored business park for technology firms, reached a deal to "jointly build a cloud service and product research and development center". Lenovo's Asia Pacific data center will also be housed in Cyperport.


title: Lenovo

text: Lenovo assembles smartphones in Chennai, India through a contract manufacturing agreement with Flextronics. In November 2015, Lenovo announced that it would start manufacturing computers in Pondicherry.


title: Lenovo

text: In August 2020, "The Intercept" reported that Lenovo imported about 258,000 laptops from the Chinese manufacturer Hefei Bitland Information Technology, a company, among others, accused by the Australian Strategic Policy Institute of using Uyghur forced labor. In July 2020, the United States Commerce Department added 11 companies, including Hefei Bitland, implicated in human rights abuses on the Entity List. Lenovo took some shipments out of the distribution, but other shipments were distributed to consumers.


title: Lenovo

text: In late July, Lenovo informed its customers it had stopped manufacturing with Bitland and was moving production of related devices to other suppliers.


title: Lenovo

text: During the 2022 Russian invasion of Ukraine, Lenovo reportedly suspended shipping to Russia on or before February 25, 2022 and, although it didn't confirm the suspension, faced a domestic backlash from Internet users in China.


title: Lenovo

text: Alongside Beijing, the company has operational centres in Lorong Chuan, Singapore, and Morrisville, North Carolina (near Raleigh in the Research Triangle metropolitan area) in the United States. As of October 2012, the Morrisville facility has about 2,000 employees. Lenovo identifies its facilities in Beijing, Singapore, and Morrisville as its "key location addresses", where its principal operations occur. The company stated that "by foregoing a traditional headquarters model and focusing on centers of excellence around the world, Lenovo makes the maximum use of its resources to create the best products in the most efficient and effective way possible". The company's registered office is on the 23rd floor of the Lincoln House building of the Taikoo Place in Quarry Bay, Hong Kong.


title: Lenovo

text: Previously the company's U.S. headquarters were in Purchase, Harrison, New York. About 70 people worked there. In 2006, Lenovo announced that it was consolidating its U.S. headquarters, a logistics facility in Boulder, Colorado, and a call center in Atlanta, Georgia, to a new facility in Morrisville. The company received offers of over $11 million in incentive funds from the local Morrisville, North Carolina, area and from the State of North Carolina on the condition that the company employs about 2,200 people.


title: Lenovo

text: In the third quarter of 2020, Lenovo commands a leading market share of 25.7 percent of all PCs sold in the world.


title: Lenovo

text: In March 2013, Lenovo was included as a constituent stock in the Hang Seng Index. Lenovo replaced the unprofitable Aluminum Corporation of China, a state-owned enterprise, on the list of 50 key companies on the Hong Kong stock exchange that constitute the Hang Seng Index. The inclusion of Lenovo and Tencent, China's largest internet firm, significantly increased the weight of the technology sector on the index. Being added to the Hang Seng Index was a significant boon for Lenovo and its shareholders as it widened the pool of investors willing to purchase Lenovo's stock. For instance, index funds pegged to the Hang Seng and pension funds that consider index inclusion now have the opportunity to invest in Lenovo. In November 2013 Lenovo reported that they had achieved double-digit market share in the United States for the first time.


title: Lenovo

text: In 2009, China Oceanwide Holdings Group, a private investment firm based in Beijing, bought 29% of Legend Holdings, the parent company of Lenovo, for ¥2.76 billion. , 65% of Lenovo stock was held by the general public, 29% by Legend Holdings, 5.8% by Yang Yuanqing, and 0.2% by other directors.


title: Lenovo

text: Responding to claims that Lenovo is a state-owned enterprise, CEO Yang Yuanqing said, "Our company is a 100% market oriented company. Some people have said we are a state-owned enterprise. It's 100% not true. In 1984 the Chinese Academy of Sciences only invested $25,000 in our company. The purpose of the Chinese Academy of Sciences to invest in this company was that they wanted to commercialize their research results. The Chinese Academy of Sciences is a pure research entity in China, owned by the government. From this point, you could say we're different from state-owned enterprises. Secondly, after this investment, this company is run totally by the founders and management team. The government has never been involved in our daily operation, in important decisions, strategic direction, nomination of the CEO and top executives and financial management. Everything is done by our management team."


title: Lenovo

text: In early 2006, the U.S. State Department was harshly criticized for purchasing 16,000 computers from Lenovo. Critics argued that Lenovo was controlled by the Chinese government and a potential vehicle for espionage against the United States. Yang spoke out forcefully and publicly to defend Lenovo. He said, "We are not a government-controlled company." He pointed out that Lenovo pioneered China's transition to a market economy and that in the early 1990s had fought and beaten four state-owned enterprises that dominated the Chinese computer market. Those firms had the full backing of the state while Lenovo received no special treatment. The State Department deal went through. Yang worried that fears about Lenovo's supposed connections to the Chinese government would be an ongoing issue in the United States. Yang worked to ease worries by communicating directly with Congress.


title: Lenovo

text: Yang dramatically increased his ownership stake by acquiring 797 million shares in 2011. As of June 2011, Yang owned an 8 percent stake in Lenovo. He previously owned only 70 million shares. In a statement, Yang said, "While the transaction is a personal financial matter, I want to be very clear that my decision to make this investment is based on my strong belief in the company's very bright future. Our culture is built on commitment and ownership – we do what we say, and we own what we do. My decision to increase my holdings represents my steadfast belief in these principles."


title: Lenovo

text: Lenovo's senior executives rotate between the three head offices at Beijing, Singapore, and Morrisville, as well as Lenovo's research and development centre in Yamato, Japan.