In 2005, Lenovo acquired IBM's PC division for $1.75 billion. Now, the 18 billion computer maker has begun to earn profit. Lenovo earned a net $67 million net profit in the most recent quarter. Its PC shipment surged more than 22 percent. . Its stock listed in Hong Kong has jumped nearly 120 percent over the past year.
Lenovo has offices in China, America, Singapore, France, Japan, and India, but no official corporate headquarters. Bill Amelio, the American CEO, lives in Singapore. Chairman Yang Yuanqing of China lives in Raleigh, North Carolina. Lenovo's project "sea turtle" aiming at luring talented Chinese expatriates back to the mainland to work for the company has resulted several dozen hires.. (Source: Rick Newman, "Lenovo's great leap," U.S. News & World Report, Oct 15, 2007, pp. 48-50).