Lenovo IBM's interest in Lenovo fell below the 5% threshold that mandates public disclosure. IBM's Intel based server lines, including IBM System x and IBM BladeCenter were sold to Lenovo in 2014. Lenovo says it will gain access to more enterprise customers, improve its profit margins, and develop a closer relationship with Intel, the maker of most server processors, through its acquisition of IBM's x86-based server business. On 1 October 2014, Lenovo closed its acquisition of IBM's server division, with the final price put at $2.1 billion. Lenovo said this acquisition came in at a price lower than the previously announced
Lenovo Yuanqing said: "I believe urbanisation will help us further increase the overall [domestic] PC market." Yang also stressed the opportunity presented by the China's relatively low penetration rate of personal computers. Lenovo previously benefited from the Chinese government's rural subsidies, part of a wider economic stimulus initiative, designed to increase purchases of appliances and electronics. That program, which Lenovo joined in 2004, ended in 2011. Lenovo enjoys consistent price premiums over its traditional competitors in rural markets and a stronger local sales and service presence. Lenovo has gained significant market share in India through bulk orders to large companies and