Abstract
During the difficult time of COVID-19, many businesses in different industries have experienced an economic downturn, causing their future development uncertain to foreseen. The research on the future trend of the IT industry is important because the technologic companies are dependent on customers that either the companies' internal features and external environment can influence people's buying powers. This paper chose Lenovo, a Chinese technologic company that dominates the global market, from the IT industry to analyze its strengths and weakness, as well as the impact of the current situation. This paper looked at Lenovo's financial data and stock price, along with Lenovo's strategies and operating process, to identify Lenovo's present-day situation. Although Lenovo holds a strong position in the global market right now, with the ongoing unfavorable environment such as the trade war between U.S. and China and the rampant of counterfeits, Lenovo is facing threats of losing its stock price. This paper contains a detailed analysis of Lenovo's strengths and weaknesses and the environment it has to deal with. The paper provides evidence to predict Lenovo's future development and suggestions to expand the existing market.
Highlights
The burst of COVID-19 triggers the global economy's downturn and decreases people's overall buying power [1]
With the current environment under the explosion of Covid-19, trade war, and software piracy, this paper researches the prospects of IT industry and would like to focus on Chinese companies
Since Lenovo is a Chinese technology company that dominates in the global market, this paper is going to deeply analyze Lenovo's situation during the present day and predict its future development
Summary
The burst of COVID-19 triggers the global economy's downturn and decreases people's overall buying power [1]. According to BBC News, the US has imposed tariffs on more than $360bn of Chinese goods, and China has retaliated with tariffs on more than $110bn of US products [3] These policies negatively affect the businesses of both countries by restricting the transaction between them. With the current environment under the explosion of Covid-19, trade war, and software piracy, this paper researches the prospects of IT industry and would like to focus on Chinese companies. Since Lenovo is a Chinese technology company that dominates in the global market, this paper is going to deeply analyze Lenovo's situation during the present day and predict its future development. This paper’s research question would be: what abilities Lenovo does have to dominate in the IT industry and how the current environment provides opportunities and threats to its business?. The trade war between the US and China can cost Lenovo on its fiscal report
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