Lenovo third-largest computer maker worldwide by volume. In regards to the purchase of IBM's personal computer division, Liu Chuanzhi said, "We benefited in three ways from the IBM acquisition. We got the ThinkPad brand, IBM's more advanced PC manufacturing technology and the company's international resources, such as its global sales channels and operation teams. These three elements have shored up our sales revenue in the past several years." IBM acquired an 18.9% shareholding in Lenovo in 2005 as part of Lenovo's purchase of IBM's personal computing division. Since then, IBM has steadily reduced its holdings of Lenovo stock. In July 2008,
Personal Computer World made up a proportion of its bulk, although it had diminished somewhat since its peak in the 1990s. Personal Computer World Personal Computer World (usually referred to as PCW) (February 1978 - June 2009) was the first British computer magazine. Although for at least the last decade it contained a high proportion of Windows PC content (reflecting the state of the IT field), the magazine's title was not intended as a specific reference to this. At its inception in 1978 'personal computer' was still a generic term (the Apple II, PET 2001 and TRS-80 had been launched as personal computers