00:00While these three traits have been key to Lenovo's success, the company faces challenges both inside and outside of China.
00:06One of the biggest challenges Lenovo has faced is how to effectively manage its operations in two different countries with
00:12two different sets of laws and regulations.
00:15Additionally, Lenovo must deal with the competition from other international companies such as Dell, HP, and Apple.
00:22Nevertheless, Lenovo has been able to overcome these challenges and become one of the most successful technology companies in the
00:29world.
00:30And speaking of becoming one of the most successful technology companies in the world, Lenovo wasn't always a huge company.
00:37In fact, it started off quite small, and if it weren't for its co-founder and former CEO Liu Shanji,
00:43who is the second richest man in China, Lenovo may not even exist today.
00:48Liu Shanji was born in December of 1954 in Xinjiang, China.
00:52He graduated from the prestigious University of Science and Technology of China with a degree in engineering.
00:58After graduation, he joined the Chinese Academy of Sciences as a researcher.
01:03In 1980, Liu co-founded the Chinese Software Company, which specialized in developing software for the Chinese computer industry.
01:10The company was one of the first of its kind in China, and it gave Liu valuable experience in the
01:15computer industry.
01:17In 1984, Liu co-founded Lenovo with several other engineers from the Chinese Academy of Sciences.
01:23The company was initially called Legend Holdings Limited, and it began by manufacturing computer parts for other companies.
01:30However, Liu had bigger plans for the company.
01:33He wanted to create a Chinese computer company that could compete with international companies such as IBM and Hewlett-Packard.
01:40To do this, Liu began investing heavily in research and development.
01:44He also began working on a plan to expand the company internationally.
01:48Under Liu's leadership, Lenovo began to grow rapidly.
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