On 3rd May 2010, Lenovo and CIT Group Inc., who is one of the giants in providing finances, signed an intent letter to create the efficient Lenovo Financial Services [LFS]. LFS will be a program that will offer not only a wide range of solutions, specifically in vendor financing to business partners of Lenovo but also the customers who greatly avail Lenovo’s highest range of products and services integrated with its efficient technology. The programs of LFS will grandly initiate on 1st June 2010 in North America.

The President and Chief operating officer of Lenovo announced that the establishment of Lenovo Financial Services Program offers various opportunities to avail the alternatives of financial services to the elite customers. In addition, he mentioned that Lenovo Financial Services Program will focus on the financing programs that are specifically made to be in total terms with the effective needs of customers.

However, the President of IT vendor Finances, Mr. Bon Arrington mentioned that it was a great excitement to have the high relationship with Lenovo, who is a developed PC company in industry. The LFS establishment is a leading provider of financing solutions of their vendors. It demonstrates the ability of CIT to offer financial solutions for the customers of the technology companies.

Advantages incorporated

Lenovo customers are benefited the most because they will achieve the technology that will acquire them to increase their purchasing power. It will not only offer protection against obsolescence of technology but will also preserve the capital for other utilizations.

Discovering Lenovo and CIT

Lenovo is popular for its dedication in building the personal computers that are engineered exceptionally. The business model of Lenovo is structured on the efficiency of operation, satisfaction of customers and focusing on the investment in the emerging markets. This was created by acquisition group of Lenovo, former IBM personal computing. This division of the company creates, develops and markets the reliable, secured and easy to use technology products and services globally. Lenovo has many research centers that are localized worldwide from Yamato, Japan, Beijing, Shanghai, Shenzhen, and Raleigh to North Carolina.

Founded in 1908, CIT is headquarters in New York. The company is a holding bank and its approximate assets and finances is $ 45 billion, which offers financial products and advisory services to small and middle businesses. It operates in more than 50 countries and offers an unparallel combination of bonding, intellectual power and capital finance to its customers. CIT is a leader in retail, finances, aerospace, and equipment, rail leasing and vendor finance.

Concluding remarks

Thus, it was a memorable event when the two big technology giants Lenovo and CIT announced the integration of financial services. These companies will offer opportunity for all those customers who are increasing their purchasing power. It is greatly estimated that this program will effectively solve the true needs of customers.