The New York Times > Technology > Sale of I.B.M. PC Unit Is a Bridge Between Companies and Cultures

The New York Times > Technology > Sale of I.B.M. PC Unit Is a Bridge Between Companies and Cultures: "The transaction - The Times reported late last week that I.B.M. had put its PC business up for sale - points to the rising global aspirations of corporate China as it strives to become a trusted supplier to Western companies and consumers. The sale also signals a recognition by I.B.M., the prototypical American multinational, that its own future lies even farther up the economic ladder, in technology services and consulting, in software and in the larger computers that power corporate networks and the Internet. All are businesses far more profitable for I.B.M. than its personal computer unit.
But the move signals an acknowledgment by I.B.M. that its future in China may be best served by a close partnership with a local market leader - particularly one, as in Lenovo's case, that is partly owned by the Chinese government. The chief executive of Lenovo will be Stephen M. Ward Jr., currently an I.B.M. senior vice president in charge of the PC business. Lenovo's current chief and president, Yang Yuanqing, will become Lenovo's chairman."