Annual Report Project Essay

666 Words Jan 22nd, 2014 3 Pages
Annual Report Project | Lenovo, Fiscal Year 2012/13 | Accounting I Professor Jerome Newman By: Min Ki Kim August 24th 2013 |

Lenovo is a Chinese computer company that primarily specializes in laptop computers, workstations and various other consumer electronics with an emphasis on catering to businesses, and government agencies with their Think line of durable laptops. Their 2012/2013 annual statement includes a quick business review from their management team that is composed of an: audit committee that independently review financial statements, internal controls, and risk management systems; compensation committee which decides compensation policy for the CEO and other senior management, nomination and
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Lenovo has also recently opened a brand new manufacturing facility in North Carolina for their Think brand of products in order to provide the east coast with faster services and product shipments (P.9).
On August 1st 2012 Lenovo and EMC Corporation successfully negotiated a strategic partnership that will allow them to improve their network storage server solutions, specifically allowing Lenovo to enhance their x86 server capabilities. Lenovo will be providing the hardware while EMC provides the software to power these industry standard servers, they are also leveraging EMC’s Iomega product line in order to provide small to medium businesses with affordable NAS server capabilities (http://www.emc.com). With the emergence of cloud computing server solutions, Lenovo has also acquired Stoneware, a U.S. company in order to explore new opportunities to augment their new server solutions business. Lenovo’s financial highlights are showing strong and steady growth in

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