Will Bounce Back in Smartphone Business in India: Lenovo CEO
Admitting that Lenovo made some "mistakes" in the smartphone concern in India, the visitor CEO Yang Yuanqing on Th vowed to bounce dorsum and reclaim its past glory in the next couple of years by launching right products for the Bharat market under both its Lenovo and Motorola brands.
"Bharat is a very important market for us. We have room for improvements in the smartphone business," Yuanqing said here while participating in a roundtable conference, along with other members of the Lenovo Executive Council — the highest determination-making body of the visitor.
"Overall, our target is to generate acquirement of upwards to $six billion in the side by side five years from India," Yuanqing said, calculation that the visitor is focusing on scaling all verticals of its businesses including the personal calculator (PC) and smart devices segment that includes tablets, and information centre business, also the smartphones segment.
While Lenovo's PC and tablet businesses accept continued to post robust growth in Republic of india over the past few years, its marketplace share in the smartphone business saw a decline in the 2017-2018 fiscal year, coming down to almost half dozen per cent, from nine per cent in the previous financial twelvemonth, the company said, citing data from the International Data Corp (IDC).
"In the PC segment, we grew by 43 per cent while the market grew by just 5 per cent, and in tablets segment, we were No. 1," Rahul Agarwal, Manager and CEO, Lenovo Republic of india, said.
"The dual brand strategy of rolling out smartphones under both Lenovo and Motorola brands has not affected usa adversely. We will continue to revamp product portfolios under both brands. The 2 brands can be free," Yuanqing said.
He added that the visitor was planning to target the premium segment with the Motorola make and the affordable and entry segments by and large through Lenovo.
Where the company did not do likewise well in the past year was on its service strategies and in highly-seasoned consumers from more places inside the land, he said.
"Going ahead, we volition have different production portfolios and cost structures for online and offline distribution channels," the Lenovo CEO said.
Source: https://beebom.com/made-mistakes-in-smartphone-business-in-india-will-bounce-back-lenovo-ceo/
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