Lenovo sells its products in around 160 countries. 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.S. It also has a joint venture with NEC, Lenovo NEC Holdings, which produces personal computers for the Japanese market. Lenovo was founded in Beijing in November 1984 as Legend and was incorporated in Hong Kong in 1988. Lenovo acquired IBM's personal computer business in 2005 and agreed to acquire its Intel-based server business in 2014. Lenovo entered the smartphone market in
Lenovo United States for the first time. Lenovo is the world's largest personal computer vendor by unit sales from 2013 to 2015. In 2016 Lenovo shipped an estimated 55.5 million PCs, for an estimated 21.3% market share, according to market research firm International Data Corporation. For the fiscal year ending March 2016, the company reported revenue of USD$44.9 billion. The company's expansion was boosted in part by a joint venture with NEC in Japan called Lenovo NEC Holdings. Lenovo was able to reclaim its top spot in PC market share 2018. In 2009, China Oceanwide Holdings Group, a private investment firm