|
In a bid to compete in overseas markets, Legend Group Limited took a bold step yesterday to change its logo which had been used for 15 years and is well-known around China.
The company created the new English brand "Lenovo," which stands for "innovative legend." Its Chinese brand name will be kept.
The company has registered the name in more than 100 countries. The logo change will be completed before the end of the year on all of its advertisements, products and outlets.
The Chinese computer giant said the action will prepare it for future expansion into the international market.
The logo "Legend" has been used in different industries worldwide and is easy to cause confusion and intellectual property problems.
"After becoming a market leader in China, our next step is going global. That is why we needed to create a unique logo before marching into foreign countries," said Yang Yuanqing, Legend president and chief executive officer.
However, he said the company had not decided on a globalization plan.
"The logo change doesn't mean that we've been fully prepared for exploring overseas markets," Yang said. "We'll announce a plan in the later half of the year for the next three to five years."
An analyst said Legend won't take immediate steps overseas at present.
"It's not a proper time yet," said Huang Yong, a senior vice president of CCID Consulting.
"It lacks experience and talent for overseas operation. The international PC market is already pretty crowded."
Legend Group currently runs seven overseas offices, most of which are in Europe. Overseas sales account for 7 percent of its total revenue.
Although media reports said the move will tax the company's brand awareness, Huang noted it is not a problem.
"Since Legend's business is mostly concentrated on the Chinese market, the launch of the new English logo won't cause a lot of change in the short term," he said. In China, the home-grown computer giant has been at the top of the personal computer sector for years.
It sold about 9.08 million units last year, about 27.8 percent of the domestic market, according to CCID.
It predicts Legend will report revenue of around 23.5 billion yuan for its fiscal year ending on March 31, an increase of 15 percent.
(Shanghai Daily April 29, 2003)
|
