Lenovo that tracks the progress of these integrations. Lenovo has an annual meeting where the management of newly acquired companies meets with its top 100 executives. In these meetings, held in English, Lenovo explains its global strategy and how new executives fit into its plans. Lenovo acquired IBM's personal computer business in 2005, including the ThinkPad laptop and tablet lines. Lenovo's acquisition of IBM's personal computer division accelerated access to foreign markets while improving both Lenovo's branding and technology. Lenovo paid US$1.25 billion for IBM's computer business and assumed an additional US$500 million of IBM's debt. This acquisition made Lenovo the
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