Other BrandsLenovo aims to become second largest smartphone vendor in India

Lenovo aims to become second largest smartphone vendor in India

Lenovo intends to become the second largest smartphone vendor in India, as part of its ongoing growth strategy. The plan echoes similar statements it made in November last year when it had declared that it was going to double its India production to 10 million units and aim for the number 2 rank among handset makers in the country.

Lenovo could very well be on its way to achieve its goals. The company emerged as one of the fastest growing smartphone sellers in India in Q1 of 2016 thanks to its 63% year-on-year rise, according to a Canalys report. The agency claims this came to pass because the brand offered value-for-money phones and expanded its offline coverage.

Lenovo K3 Note

Lenovo intends to further improve its offline presence by making most of its online portfolio of products available at retail shops in the future. The firm’s SVP Aymar de Lencquesaing asserts that the manufacturer has a 9% market share in India. With regards to Make in India, he stated that it currently produces 6 million units here via its local factories.

Also Read: Lenovo Vibe K5 lands in India at Rs 6999

India apparently generated nearly $1 billion in revenue during the last quarter for Lenovo. As such, it’s been increasingly focusing its efforts on the nation, terming the country one of the big volume markets alongside China and North America. While its known for offering affordable phones, it’s now planning to make inroads into the premium market segment here.

The upcoming Moto Z could be part of that strategy, although Lenovo has chosen not to reveal the price of the smartphone just yet. There’s also the accompanying Moto Mods back plates which will likely cost around $50 – $200 (roughly Rs 3300 – 13500) depending on the accessory.

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