Lenovo Aims to Double Sales, Eyes Top Spot in India's Smartphone Market
Charissa Echavez | | Oct 04, 2016 10:51 PM EDT |
(Photo : Getty Images) Visitors look at smartphones at the Lenovo stand at the 2015 IFA consumer electronics and appliances trade fair on September 4, 2015 in Berlin, Germany.
China's smartphone maker Lenovo said on Tuesday it is targeting not only to double its sales but also to land on the top spot in India's smartphone market with its Lenovo and Motorola brands.
"We grew 100% year on year in last fiscal. We are on a growth trend and I see no reason why that growth rate will slow down. That's the trend we are expecting to continue," Sudhin Mathur, executive director of Lenovo India Mobile Business Group, told the Economic Times.
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Lenovo together with Motorola snatched the second biggest smartphone seller in terms of value in India, surpassing Apple, with a market share of 9.1 percent in the quarter ended June 2016. When it comes to volume, Lenovo secured the third spot in India, accounting for 7.7 percent of the market share, the company said citing International Data Corporation's Asia Pacific data.
"We won't be playing second fiddle and we want to become number one in the India," Aymar de Lencquesaing, senior vice president and co-president of Mobile Business Group, said.
As part of its strategy, Lenovo will target the premium segment category (priced $300) in the country. Last Tuesday, it launched Moto Z and Moto Z Play, with price tags at $600 and $375, respectively. These handsets will initially be available on Amazon India and Flipkart starting October 17, according to The Hindu Business Line.
Meanwhile, Lenovo also revealed its plans to expand at a global level, with the aim of becoming the world's third biggest vendor worldwide.
"It's not mission impossible at all... We are getting on to the gas paddle globally to push volumes worldwide," Lencquesaing said.
TagsLenovo, lenovo india, Smartphone, indian market, Mobile Phones, Lenovo Moto Z, lenovo moto z play
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