Lenovo and EMC create a "strategic worldwide partnership"-- with plans for the sale of EMC network storage products in China while boosting Lenovo enterprise operations outside of Asia. 

In other words, the two companies will leverage on each other's client base and experience in their respective home markets. The agreement also replaces the previous reseller partnership EMC had with Dell. 

The two companies will also share server development, embedding EMC x86-based technology in Lenovo offerings before making it available in "select" EMC storage systems. 

Also in the works is a new joint venture selling storage equipment (based on the combination of EMC's Iomega business and Lenovo cash) to the SMB market.

Lenovo describes the EMC partnership as "another solid step in our journey to build on our foundation in PCs and become a leader in the new PC-plus era.”  

Go Lenovo and EMC Team Up in Strategic Worldwide Partnership