ThinkPad past several years." Although Lenovo acquired the right to use the IBM brand name for five years after its acquisition of IBM's personal computer business, Lenovo only used it for three years. The majority of ThinkPad computers since the 2005 acquisition of the brand by Lenovo have been made in China. In addition to these Chinese manufacturing facilities, Lenovo employs 300 people at a combined manufacturing and distribution center near its American headquarters in Morrisville, North Carolina. Each device made in this facility "is packed in a box that sports a red-white-and-blue sticker proclaiming "Whitsett, North Carolina." In 2012, Lenovo
Lenovo companies said in a statement that they would establish a new company called Lenovo NEC Holdings, to be registered in the Netherlands. NEC received US$175 million in Lenovo stock. Lenovo was to own a 51% stake in the joint venture, while NEC would have 49%. Lenovo has a five-year option to expand its stake in the joint venture. This joint venture was intended to boost Lenovo's worldwide sales by expanding its presence in Japan, a key market for personal computers. NEC spun off its personal computer business into the joint venture. As of 2010, NEC controlled about 20% of Japan's