Lessons From Lenovo’s Deals for IBM ThinkPad, Motorola: Chart

Few Chinese companies have bought and managed more high-profile global brands than Lenovo Group Ltd., including deals for International Business Machine Corp.’s PC unit in December 2004, small-server business in January 2014 and Motorola Mobility Group that same month. An investor who bet on Lenovo shares just before the ThinkPad deal would have seen their total return exceed 500 percent by May 2015, more than five times the gain for IBM. But with the global PC market now shrinking and competition in the mobile-phone industry growing, the Beijing-based company’s shares have plunged back to near-parity with IBM.

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