Supply constraints in the personal computer market are no longer there and the marketing spend has now grown beyond pre-Covid levels, a senior official of PC maker Lenovo said on Tuesday.
Lenovo India director of consumer business Dinesh Nair said that stability of portfolio is a critical factor for companies and Lenovo plans to do a lot of things to maintain the growth momentum.
“Our business, fundamentally, from a supply standpoint is no longer a challenge. Now it’s all about what you do in the market and we are going to do a lot of things in the market. Stability of the portfolio is a critical element when you get into the market,” Nair said.
He was speaking on the sidelines of unveiling premium notebooks of the company.
Lenovo unveiled seven laptops in premium range, which include Legion 5i, Legion 5i Pro, Legion Slim 7i and the IdeaPad Gaming 3i along with Yoga 9i, Yoga Slim 7i Pro, and Yoga 7i, in the price range of Rs 84,990 to Rs 1,96,990 a piece.
Nair said that all the new laptops will start selling in India after 10 days.
According to IDC, worldwide PC (Personal Computer) shipments declined by 12.6 per cent to 72 million units in the April-June period of 2022 due to geopolitical, economic and supply chain challenges, which impacted all regional markets.
“This is the sharpest decline in nine years for the global PC market, brought on by geopolitical, economic and supply chain challenges impacting all regional markets,” IDC said.
Lenovo maintained lead with 24.8 per cent market share globally despite witnessing a 12.5 per cent dip in shipments.
“We are confident of market prospects in the long run. Lenovo India is a USD 2.2 billion organisation today. Once we are stable in the market then our infrastructure to do business is strongest in the market,” Nair said.
He said that the company has almost 540 stores out of which 300 were opened in the last two years.
“My stores can now deliver products in 225 cities on the same day. Our current average for product delivery is about 6 hours. Our marketing spend is also going to be significant. It is already better than pre-Covid levels. Overall, we see a huge opportunity in the market so the marketing budget is going to be very large,” Nair said.