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SummaryLenovo is in midst of transformation from a pure-play PC firm to provider of new-age smartphones, tablets.
Chinese device maker Lenovo wants to be known as a PC+ brand in the marketplace. Acutely aware that the PC market is fast dwindling and there is a strong customer demand for new-age mobility devices such as smartphones, tablets and convertibles, this $34-billion Beijing-headquartered company has rolled out an aggressive business strategy in order to drive revenues in what it calls the PC Plus segment. A strong performance in the second fiscal quarter ended September 30, 2013 is proof that Lenovo�s transformation strategy is playing out well, but more on it later. First, a look at its new-found aggression to improve the market share in India.
Lenovo has identified India as a high growth market for the company�s future growth, says Amar Babu, managing director, Lenovo India. �The market worldwide has trended towards smartphones and India is no exception, as the young and tech-savvy people are opting for the latest devices that can perform multiple functions. We are looking at product expansion and focused marketing to strengthen our market in India.�
Last week, Lenovo introduced its stylish and sleek smartphone�the Vibe X. It sports features comparable to those of a high-end superphone such as the face orientation rotation feature, the smart call feature, the Smart swipe, the pocket mode, etc, but is attractively priced at R25,999. �Globally, we have emerged as the No. 4 smartphone brand. In India, we have made an interesting beginning and we expect our growth trajectory to continue with the introduction of newer models,� says Amar, responsible for driving the overall business and growth of the brand in India.
Lenovo forayed into India�s fast-growing smartphone segment last year and has since introduced a slew of mobile phones, tablets and convertibles in the market. It is targeting the entire spectrum of the market� top level, premium segment, middle segment and the entry-level segment. Lenovo expects to garner 5% share of the smartphone market in the country in the next few years. It intends to launch a number of devices to consolidate its presence in the Indian market. �After a detailed study of the consumer requirements, we aim to address the
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