After Lenovo, world's largest PC maker faces fading demand in its home market China, it has high expectations on India where it expects to see a mammoth growth in the coming years.
As per Lenovo's Asia-Pacific head Roderick Lappin, the company would have to expand with new product lines if it wanted to stay ahead in competition. Lenovo is fighting a battle of existence with Apple and Samsung for market share in the smartphone industry.
BANKING ON NEW PRODUCTS
Roderick Lappin said that from a PC perspective, the market is definitely declining. But, Lenovo is banking on its new range of Windows tablets, on its growing use, to offset declines from traditional PCs. He also added that the company has launched four brand new Windows tablet products that are designed as PC replacements and is worth 30 million units.
INDIA REVENUES TO CROSS $2B
As per company's India head Rahul Agarwal, Lenovo expects revenues (including its Moto and server business) from India to cross $2 billion by the end of 2016.
According to documents posted on the Ministry of Corporate Affairs website earlier in February, Lenovo India's revenue jumped 40% to Rs 5,667.2 crore for the year ending March 31, 2015.
Earlier in February, Lenovo said its global revenue fell 8% in the three months that ended in December, amid cost cuts globally that helped the company deliver a healthy net profit. Following the economic slowdown in China, it has impacted sales for all major PC and smartphone vendors.
Roderick Lappin said that even though the economic situation in China is slowing... it's still a great growing economy. Last quarter, Lenovo grew to a 1.7% share in China, hitting 40% market share. It is still company’s largest geo and profitability geo as well. As a company, Lenovo is diversifying at a fast pace to maintain a balanced portfolio. Lenovo still think there's a lot of room for growth in China.