Founded in 1984 by a group of Chinese scientists with an initial capital of only 200,000 yuans ($25,000), Lenovo quickly became one of the best known computer equipment and electronics brands in the world. The company’s original name was New Technology Developer Inc., and then later, Legend. The company became known by its current name, which combines "Le-" (from Legend) and the Latin "novo" ("new"), in 2003. Lenovo’s first PC was released in 1986 and weighed almost 5.5 kg; the company’s first smartphone, LePhone, was released in 2010. The current Lenovo lineup includes tablets, PCs, and smartphones and the company also provides maintenance services to improve productivity and competitiveness.