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,
Lenovo smartphones smartphone range. In May 2012, Lenovo announced an investment of US$793 million in the construction of a mobile phone research and development facility and factory in Wuhan, China. The facility, called the Lenovo Industrial Base, was scheduled to start operations in October 2013. In March 2014, Lenovo renamed its mobile device division to the Mobile Business Group. It was formerly known as the Mobile Internet and Digital Home Group. In August 2015, Lenovo announced that except for ZUK, all of its mobile phone business would be folded into Motorola Mobility. The Lenovo brand name will no longer be used on