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Jiǎ Xùfú (贾续福), one of the founders of Lenovo, indicates the first meeting in preparation for starting the company was held on 17 October of the same year.Eleven people, the entirety of the initial staff, attended.The name for the company agreed upon at this meeting was the Chinese Academy of Sciences Computer Technology Research Institute New Technology Development Company.Their first significant effort, an attempt to import televisions, failed.

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Lenovo soon started developing a circuit board that would allow IBM-compatible personal computers to process Chinese characters. Lenovo also tried and failed to market a digital watch.

"We were mainly scientists and didn't understand the market," Liu said.

"We just learned by trial-and-error, which was very interesting—but also very dangerous," said Liu.

Lenovo's principal facilities are in Beijing and Morrisville, with research centers in Beijing, Shanghai, Shenzhen, Xiamen, Chengdu, Nanjing, and Wuhan in China, Yamato in Kanagawa Prefecture, Japan and Morrisville in the U. It operates a joint venture with EMC called Lenovo EMC, which sells network-attached storage solutions.

It also has a joint venture with NEC, Lenovo NEC Holdings, which produces personal computers for the Japanese market.

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