Lenovo not renewing Olympic contract

Lenovo Chairman Yang Yuanqing addresses a conference
on the company's second fiscal quarter of 2007/08 results
in Hong Kong November 1, 2007. [Agencies]

Lenovo Group, the only worldwide Olympic partner from China, said Tuesday it will not renew its sponsorship contract with the International Olympic Committee (IOC) after the Beijing 2008 Olympic Games.

The computer giant stated on its website it will focus on a "regional sports marketing strategy" after the Beijing Games instead. It will end its partnership with the IOC in December next year, four months after the closing of the Beijing Games.

"In order to make Lenovo a brand known worldwide, the company will be more focused on event sponsorship for strategically targeted markets, which will better meet the needs of deepening the development of Lenovo in particular countries and regions," the statement said.

In March 2004, Lenovo signed a deal with the IOC to join the Olympic partner program for the 2005-08 period. The deal included sponsorship of both the 2006 Turin Winter Games and the 2008 Beijing Summer Games, during which the company would be the sole computer technology equipment provider.

Lenovo officials said the company has achieved its goals in sponsoring the two Games and that it was a rational decision not to renew the contract.

"The decision to join the Olympic sponsorship was in line with our internationalization strategy at that time, when we needed to increase the brand presence globally," Daisy Chen, corporate communications dir

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