As sales slide in its home country China, Lenovo Group is planning to ramp up its presence in India, the world’s second largest smartphone market including expanding its retail presence for its smartphones, extending apps for the local market, and increasing local manufacturing.
“India for most of our product categories is a key strategic market” said Aymar de Lencquesaing, senior vice president, Lenovo Group, who also leads the Chinese company’s mobile business including R&D, product and supply chain management.
“We believe this market will continue to grow not only in volume but also in the line-up of premium products,” he said.
As part of its plans, Lenovo aims to increase its market share from less than 10% during the January-March quarter by expanding its reach of smartphones in retail outlets.
The company had been predominantly focussing on selling through online channels to increase sales, since it gives better margins by saving on inventory and supply chain costs.
Lenovo also plans to increase manufacturing of its handsets within India as and when the demand increases, he said.