Lenovo joins elite club of Olympic sponsors

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Last updated at: (Beijing Time) Friday, March 26, 2004

Lenovo joins elite club of Olympic sponsors

On July 13, 2001, China made history as its capital city Beijing won the bid to host the 2008 Olympic Games.

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On July 13, 2001, China made history as its capital city Beijing won the bid to host the 2008 Olympic Games.

With a little more than four years before the 2008 Games, China made history again as computer maker Lenovo Group (formerly Legend)became the country's first ever company to join the Olympic Partner Program, or TOP.

Lenovo inked a worldwide sponsorship deal with the International Olympic Committee (IOC), becoming the major supplierof information technology (IT) equipment for the 2006 Winter Olympic in Turin and the 2008 Summer Olympic in Beijing.

"I would very much like to welcome Lenovo as the latest official partner of the IOC worldwide marketing program," said Gerhard Heiberg, chairman of the IOC Marketing Commission, at the signing ceremony held here on Friday.

Both sides refused to disclose the financial terms of the sponsorship deal but it was estimated to be worth over 65 million US dollars.

According to the deal, Lenovo can use the logo of "IOC's worldwide partners" to promote its brand and sales in the global market during the four-year tenure.

Apart from Lenovo, the IOC has so far signed 10 other TOP sponsors for the coming four-year period, including Coca-Cola, John Hancock, Kodak, McDonald's, Panasonic, Samsung, Swatch, Visa,General Electric and Schlumberger.

Lenovo's move ended foreign brands' monopoly of the business giants' club of worldwide sponsorship for the grand sports events.

"Becoming a global Olympic partner is a golden opportunity for us. It will help to promote the Lenovo brand and boost our business expansion in the international market," said Liu Chuanzhi,chairman of the board of Lenovo Group.

Launched in 1985, the TOP Program, which is now in its sixth tenure, is IOC's highest level of sponsorship.

Source: Xinhua

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