IBM loss - at the time the biggest in American corporate history. Lou Gerstner was hired as CEO from RJR Nabisco to turn the company around. In 2002, IBM acquired PwC consulting, and in 2003 it initiated a project to redefine company values, hosting a three-day online discussion of key business issues with 50,000 employees. The result was three values: "Dedication to every client's success", "Innovation that matters—for our company and for the world", and "Trust and personal responsibility in all relationships". In 2005, the company sold its personal computer business to Chinese technology company Lenovo and, in 2009, it acquired
Lenovo on carriers to sell its phones, its phones lacked strong branding and unique features to distinguish them in the competitive Chinese market where a weak economy and saturated market is slowing demand and the culture clash between a more hierarchical PC company and the need to be nimble to sell rapidly-evolving smartphones. In response to the weak sales, Lenovo announced in August 2015 that it would lay off 3,200 employees, mostly in its Motorola smartphone business. In the reorganization which followed, Lenovo was uncertain how to brand its Motorola smartphones. In November 2015, members of Lenovo management made statements that