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Clevo

Clevo Co. (Chinese: 藍天電腦; pinyin: Lán Tiān Diànnǎo), founded on October 4, 1983, is a Taiwanese original equipment manufacturer (OEM) and original design manufacturer (ODM) headquartered in New Taipei City, specializing in the development and production of barebone laptop chassis and complete hardware solutions for notebooks, tablets, and all-in-one personal computers. As one of Taiwan's earliest pioneers in the notebook computer industry, Clevo focuses on of high-tech niche products, supplying customizable barebones systems to value-added resellers and system integrators in over 50 countries worldwide. These barebones enable partner brands such as Sager, , HIDevolution, and to configure and market high-performance gaming and professional laptops under their own labels, emphasizing robust build quality, upgradability, and support for advanced components like and processors alongside NVIDIA graphics. Operating as a of Taipei Twin Corporation and listed on the (TWSE: 2362), Clevo has established itself as a key player in the global PC hardware ecosystem through its commitment to and OEM partnerships.

Overview

Founding and Corporate Structure

Clevo was established on October 4, 1983, as Nan Tan Computer Co., Ltd. (NTC) in , Taiwan, initially concentrating on the manufacturing of general computer components such as keyboards before expanding into broader computer production. In 1997, the company underwent a to Clevo Computer Co., Ltd., adopting a name derived from the for "Blue Sky Computers" (藍天電腦), symbolizing and expansive vision in the sector. Clevo operates as a of Taipei Twin Corporation. Since April 2, 1997, Clevo has operated as a publicly traded company on the under the ticker symbol TWSE: 2362, with its headquarters located in , . The firm maintains a streamlined focused on original manufacturing (ODM) and original manufacturing (OEM) operations, supported by key subsidiaries including service centers in the United States, , the , , and to facilitate global support and distribution. In 1992, prior to the rebranding, NTC established a U.S.-based under the Clevo name to handle North American market distribution and operations. As of October 2025, Clevo employs approximately 4,400 personnel worldwide, with leadership centered on experienced executives overseeing R&D, production, and international expansion, including longstanding figures such as Chairman Kun Tai Hsu who has guided the company's strategic direction. This organizational setup enables Clevo to maintain agility in its core focus on hardware while adhering to Taiwanese regulatory standards as a listed entity.

Business Model and Market Position

Clevo operates primarily as an (ODM) and (OEM), specializing in the production of customizable barebone that are supplied to value-added resellers for final and . This B2B model allows Clevo to focus on designing and assembling high-performance hardware components without engaging in direct consumer marketing or retail distribution. The company emphasizes high-end niche markets, including gaming s, professional workstations, and specialized devices, while steering clear of mass-market consumer products to maintain a focus on premium, performance-oriented solutions. As one of Taiwan's leading laptop ODMs, Clevo distributes its products to partners in over 50 countries worldwide, supported by a strong commitment to (R&D) for ultra-high-end notebooks. Its revenue streams derive mainly from to these partners, with trailing twelve-month revenue reaching approximately $753 million USD as of mid-2025. Clevo's competitive advantages lie in its ability to offer rapid customization options and seamless integration of advanced components, such as graphics, enabling resellers to tailor systems for demanding applications like and . This agility in adapting to cutting-edge technologies positions Clevo effectively within the global PC industry, where it serves as a key supplier for needs.

History

Early Development (1983–1997)

Clevo, originally established as Nan Tan Computer in 1983, began operations in with a focus on general , including keyboards and systems. The company initially catered to the burgeoning local PC market, capitalizing on 's rapid industrialization in electronics during the 1980s. By 1987, Nan Tan initiated its business division in response to growing demand for portable , though full-scale production of computers did not commence until 1990. This transition aligned with 's PC boom, where the island nation emerged as a global hub for hardware assembly, driven by low-cost labor and technological know-how transferred from U.S. and firms. During the early 1990s, Nan Tan shifted toward original design manufacturing (ODM) services for notebooks, producing basic portable computers for international clients while navigating intense competition from larger Taiwanese rivals such as and . These established players, founded in 1984 and 1988 respectively, quickly dominated the notebook ODM sector through and strong partnerships with major brands like and Apple, posing significant challenges for smaller entrants like Nan Tan in securing contracts and scaling production. Despite these hurdles, Nan Tan emphasized cost-effective designs and reliable assembly, gradually building a reputation in the niche portable PC market. A key milestone came in 1992 with the opening of its U.S. subsidiary, branded as Clevo, to streamline exports, provide local support, and facilitate direct engagement with American distributors and end-users. In 1997, Nan Tan Computer officially renamed itself Clevo Computer Co., Ltd., reflecting its specialization in laptop ODM services and marking a pivotal shift toward high-end development. The same year, the company achieved its on the (TWSE: 2362), which provided capital for expanded R&D and manufacturing capabilities. This listing solidified Clevo's position as one of Taiwan's early pioneers, enabling it to compete more effectively in the global market amid the notebook industry's explosive growth.

Growth and International Expansion (1998–Present)

In January 1999, Clevo merged with its subsidiary Computer to enhance , consolidate laptop production capabilities, and expand its product range by integrating Kapok's expertise in notebook design and . This strategic consolidation allowed Clevo to streamline resource sharing and accelerate of advanced notebook models for global OEM partners. In August 2002, Clevo established a major facility in , , to lower production costs through economies of scale and boost output capacity targeted at expanding in Asian markets. The Kunshan plant, equipped for high-volume assembly of customizable barebones systems, supported Clevo's outreach by facilitating faster to resellers across the region and reducing dependency on Taiwanese facilities. During the mid-2010s, Clevo experienced notable growth in the laptop segment, driven by the integration of high-performance GPUs such as NVIDIA's GTX 900-series and CPUs like Intel's 6th-generation processors into its OEM barebones platforms. This expansion capitalized on rising demand for customizable high-end systems, with Clevo's shipments reflecting a shift toward premium models that boosted revenues despite overall volume declines in entry-level notebooks. In the 2020s, Clevo advanced its product lineup through key partnerships, including support for Intel's Arc A-series graphics in 2022, enabling discrete and integrated GPU options in high-performance laptops for enhanced AI and content creation tasks. The company also adapted to remote work trends by developing durable, portable computing solutions to meet demands for hybrid professional environments. Ongoing investments in R&D have positioned Clevo as a leader in high-tech niche products, with plans for AI-optimized notebooks featuring advanced neural processing units for applications and improved as of August 2025. These efforts underscore Clevo's focus on innovation to sustain global market presence amid evolving demands for intelligent computing solutions.

Products and Technology

Core Product Lines

Clevo's core product offerings center on customizable barebone laptops, which provide and essential that resellers configure with user-specified components to create tailored systems. These barebones emphasize flexibility, allowing integration of high-end processors, , , and for diverse applications ranging from to workloads. The P-series targets and users with robust capabilities. Models in this line, such as the P870TM1 and P870KM1, typically feature 17-inch or larger displays and support for powerful GPUs via MXM slots, alongside multiple options for enhanced and . For high-end gaming enthusiasts, the X-series delivers premium features like high-refresh-rate panels and advanced cooling. Representative examples include the X560WNR-G with a 16-inch QHD+ 240Hz G-Sync and the X580WNS-G offering an 18-inch QHD+ 240Hz , both optimized for immersive with support for top-tier graphics hardware. The W-series caters to demands, prioritizing expandability and durability for tasks like and . Models such as the W740SU and W840CU provide spacious for professional-grade components, including high-capacity and arrays suitable for demanding software environments. In addition to laptops, Clevo manufactures all-in-one (AIO) that integrate elements into a single unit with a built-in , serving as efficient replacements for and home use. The company also produces rugged computers designed for industrial and field applications, featuring MIL-STD-810G-compliant construction; for example, the L141CU employs a body tested for military-grade resilience against shocks and environmental stresses. Central to these products is their , which facilitates customization by resellers through support for up to 192GB of DDR5 across multiple slots, several M.2 PCIe SSD bays for configurations, and dedicated interfaces for discrete GPUs. Clevo's 2024–2025 models have transitioned to contemporary hardware standards, incorporating 14th-generation processors, 2nd-generation Core Ultra series processors (such as the Core Ultra 9 275HX), alongside RTX 40-series and RTX 50-series graphics (such as the RTX 5080) for improved efficiency and performance in barebone configurations.

Innovations and Specifications

Clevo has pioneered modular designs in its barebone laptops, enabling user-friendly upgrades to components like , , and in select models, MXM-format GPUs without requiring full system disassembly. This approach emphasizes longevity and customization, distinguishing Clevo's engineering from more sealed consumer laptops. Additionally, Clevo adopted with Boot Guard verification early on for enhanced in its high-performance systems, though a 2025 incident exposed private keys in firmware update packages, allowing potential unauthorized signing of malicious code. Exemplifying Clevo's high-end specifications, the X170KM-G model integrates a desktop-class i9-11900K processor, RTX 3080 Laptop GPU with up to 165W power draw, a 17.3-inch UHD display supporting G-Sync, and robust with multiple heat pipes for sustained performance under load. These configurations deliver exceptional computational power, with the unlocked CPU enabling and the GPU handling demanding graphics workloads efficiently. In 2019, Clevo integrated Creative's Super X-Fi audio technology as a hardware solution, featuring the Super X-Fi UltraDSP chip to create personalized holographic soundstages mimicking multi-speaker surround systems. Concurrently, Clevo became the first notebook manufacturer to incorporate ' SecurePad Gamma touchpad with Clear ID optical sensors, embedding under-glass directly into the touch surface for seamless Windows Hello authentication starting from that year. Clevo's research and development prioritizes thermal management, incorporating vapor chamber cooling in gaming lines such as the P870DM series to efficiently dissipate from dual GPUs and high-TDP CPUs, reducing throttling during extended sessions. In 2022, this focus extended to compatibility with A-series mobile GPUs, including the A770M in models such as the X270, supporting discrete graphics options alongside integrated solutions for versatile performance.

Business Relationships

Customers and Resellers

Clevo primarily operates as an (ODM) of barebone systems, which are then customized and branded by various resellers worldwide. In the United States, key resellers include Sager Notebook Computers, which offers the series of high-performance laptops based on Clevo ; , known for custom rigs incorporating Clevo designs; Eluktronics, specializing in configurable systems; HIDevolution, which sells laptops based on Clevo and EVOC ; Maingear, which in 2024 launched new laptops such as the ML-16 and ML-17 in collaboration with Clevo; and , which provides upgradeable mobile workstations using Clevo platforms. European resellers feature prominently as well, such as Germany's XMG (a brand of Schenker Technologies), which markets high-end gaming laptops under the XMG line using Clevo barebones, and other outlets like Eurocom's European operations. Clevo's global reach extends through partnerships with value-added resellers and brands in more than 50 countries, enabling the distribution of customized systems tailored for gaming enthusiasts and professional creators. End consumers typically access Clevo-based products indirectly via these resellers, where buyers can select high-performance configurations optimized for , , and professional workloads, often with options for such as upgraded components and aesthetics. A notable collaboration occurred in 2019 when Clevo partnered with to integrate the Super X-Fi audio technology into its OEM laptop designs, enhancing spatial audio capabilities for reseller-branded systems.

Suppliers and Partnerships

Clevo sources its primary components from leading and hardware suppliers, including for central processing units (CPUs), for graphics processing units (GPUs) such as the RTX series, for processors, and for touchpads and sensors. The company maintains strategic partnerships with these suppliers to integrate advanced technologies into its designs. For instance, Clevo collaborates with Intel as an original design manufacturer (ODM) partner for mobile implementations of the Intel Arc A-series graphics. In 2019, Clevo integrated Synaptics' SecurePad Gamma TouchPad technology, which features Clear ID optical fingerprint sensors developed through Synaptics' exclusive partnership with OXi Technology. Clevo's supply chain emphasizes reliance on Taiwanese and global vendors for high-end parts, enabling efficient sourcing and to meet the needs of its OEM clients. This approach supports the company's role as a key player in Taiwan's manufacturing ecosystem, where it coordinates with international suppliers to assemble performance-oriented hardware.

Operations

Manufacturing and Facilities

Clevo's headquarters and primary manufacturing facilities are situated in , , where the company oversees design, research, and development operations. The main plant in the supports core production activities, including prototyping and assembly of components. In 2002, Clevo expanded its operations by establishing a high-volume assembly factory in , , to enhance efficiency and meet growing demand from international partners. This facility focuses on large-scale manufacturing of barebone systems and finished products. As an (ODM), Clevo's production process follows a streamlined workflow that begins with collaborative design and prototyping in , transitioning to component integration and barebone assembly at both domestic and overseas sites. measures are integrated throughout, with select product lines undergoing rigorous testing to meet MIL-STD-810H standards for ruggedness, ensuring durability against environmental stresses like vibration, temperature extremes, and drops. The company's infrastructure supports an annual production capacity enabling shipments of millions of units, exemplified by over 2 million and related devices shipped in , with scalability tailored to customization needs for ODM partners. Clevo incorporates into its manufacturing through compliance with environmental standards and publication of annual CSR reports that address and emissions reduction, aligning with 2025 industry benchmarks for energy-efficient processes.

Financial Performance

Clevo has demonstrated fluctuations in recent years, with consolidated of NT$26.58 billion in , decreasing to NT$22.60 billion in 2024, a decline of about 15%. This reflects varying demand for its OEM laptop solutions, particularly in the and high-performance segments. As of September 2025, the trailing 12-month totaled approximately NT$24.2 billion, equivalent to roughly $756 million USD. In Q3 2025, revenue was NT$5.51 billion and NT$0.89 billion. The company's enterprise value stood at approximately $1.6 billion USD as of December , underscoring its position in the competitive PC OEM market. Profitability has remained consistent, with net margins averaging 5–7% in high-end product lines, as reported in TWSE filings, fueled by strong sales of laptops amid global demand for premium computing devices. For instance, 2023 net income reached NT$1.77 billion on revenue of NT$26.58 billion, yielding a margin of about 6.65%, and net income was NT$1.39 billion. Clevo's has experienced fluctuations aligned with broader trends in the global PC industry, peaking during the 2020–2022 surge when demand for portable solutions accelerated. Historical shows market cap at NT$18.37 billion at the end of 2020, rising to NT$20.02 billion by the end of , before moderating to around NT$23 billion by late amid normalization. The company invests consistently in innovation, including to support advancements in design and components.

Challenges and Developments

Security Incidents

In June 2024, the group RansomHub claimed responsibility for a on Clevo, alleging that they had encrypted the company's networks and backups following a incident that allowed prolonged access. The resulted in the theft of approximately 200 GB of , including manufacturing roadmaps, technical schematics, and license agreements involving partners such as , , , , , Micron, and . This exposure of sensitive partner information led to operational disruptions at Clevo, as the group demanded within an eight-day window, threatening to auction the data on their portal if unpaid. Clevo did not publicly confirm the incident or provide details on recovery efforts at the time. In early , a significant vulnerability emerged when private keys for Intel's Boot Guard security mechanism were inadvertently included in Clevo's update packages, such as B10717.exe, which were distributed publicly. These keys, part of the Boot Guard Key and Boot Policy , enabled potential attackers to sign malicious , bypassing hardware root-of-trust protections on affected systems. The leak impacted at least 15 firmware images across 10 Clevo-based device models, including laptops from brands like Gigabyte's G5, G6X, and series released between 2023 and , allowing persistent pre-boot compromises if exploited. Clevo responded by removing the compromised update packages from distribution but issued no further public remediation guidance or statements on preventive measures. These incidents underscored vulnerabilities in the OEM ecosystem, where Clevo's role as a and component supplier amplifies risks to downstream brands reliant on its hardware and . The ransomware leak highlighted the dangers of exposed and partner credentials in interconnected supply chains, while the exposure prompted broader scrutiny of UEFI key management practices across the industry, revealing repeated failures in securing signing tools and manifests. researchers, including those from Binarly and CERT/, recommended that affected users verify firmware integrity and monitor for unauthorized modifications, contributing to ongoing calls for standardized firmware audits in the sector.

Recent Advancements

In 2025, Clevo launched the X580 series of barebones, featuring an 18-inch UHD+ (3840x2400) 200Hz G-Sync display, support for up to 192GB DDR5 RAM, and integration with high-performance components like Ultra 9 275HX processors and GeForce GPUs. These new lines emphasize acceleration through 's tensor cores in the RTX GPUs and Intel's in Core Ultra chips, enabling enhanced on-device processing for and productivity tasks. Clevo has expanded its market presence in , targeting the growing demand for high-performance gaming laptops via strategic ODM partnerships with regional brands. This move aligns with the segment's notable growth in the region, driven by increasing adoption of customizable barebones systems. In R&D efforts, Clevo advanced thermal management solutions to support discrete graphics integration in next-generation designs. These developments focus on vapor chamber cooling and optimized to handle the heat from high-TGP discrete GPUs like the RTX 5080. In Q3 2025, Clevo reported an after-tax net profit of NT$890 million (US$28.7 million), driven by high-margin products. Looking ahead, Clevo is projected to see growth in its tablet and all-in-one (AIO) PC segments, benefiting from the broader PC market recovery with a forecasted 4.1% increase in global shipments to 274 million units in 2025. As a specialist in these hardware solutions, Clevo anticipates expanded opportunities amid tablet shipments, which declined 4.4% year-over-year in Q3 2025 to 38 million units.

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