As for Dell et al, going into China thats a good question.
I think they (Dell) will do what they are doing... same strategy, only in China... offer better customizable products. Don't be suprised to hear something like "Dell only has 5% of the Chinese market, but their company represents 50% of industry profits in China"
They are not stressing over China, and rightfully so.
Plus Lenovo (aka Legend) is a state corporation (one of the multitudinous 'partially govt owned' Chinese corporations). Basically that means the govt controls it and owns 49.9% of it, but they label it as "private".
In essence no one else will be allowed to have anything other than a niche market, especially if they are going to try and send the profits back to Wall Street...
I think Dell knows this. As does IBM, hence IBM has a rider in the Chinese market. Its kind of going with the flow of the powers that be.
If Dell (or anyone else) partners with a Chinese company then they might get some more of the Chinese market, but I don't expect it to happen to any sizeable extent. Dell doesn't want to open its secrets and vaults up to people they don't trust, not to mention for a mere shot at a so-so market.