Pledging CNY162 million for the sole sponsorship of CCTV's Olympics Countdown Show, Lenovo (LNVGY) will launch a round of advertisements next March.
Its winning bid will enable it to run many different advertisements for a period of 500 days from March 27, 2007 to August 24, 2008.
A Lenovo representative surnamed Zhang from Lenovo Group was quoted in local media and said Lenovo was destined to win the bidding as it is the only top sponsor of the Olympics from China. Zhang also said the CNY162 million fell short of their expectations.
The starting price of CCTV's bidding was reportedly CNY120 million. Analysts quoted in local media say that the price with which Lenovo won the bidding is quite reasonable and cost-efficient. Thirty other Olympic sponsors participated in the bidding.