STOCK MARKET BSE NSE

Will stay ahead of market growth in India with profitability, not engaged in a race: Lenovo

Lenovo is also leveraging India as a manufacturing base, through contract manufacturing, and has also begun exporting from India, recently.

Published: 05th September 2019 04:14 PM  |   Last Updated: 05th September 2019 04:14 PM   |  A+A-

Lenovo hologram (File | Reuters)

By PTI

NEW DELHI: Lenovo, which ranks India among its top-five mobile phones market in volumes, will chase a multi-pronged strategy to grow ahead of the market here and pursue profitable growth without engaging in any "race", a senior company official said on Thursday.

"We are not in the 1-2-3 race. I will want profitable growth. Growth faster than the market, but profitable growth," Prashanth Mani, country head and managing director, Lenovo Mobile Business Group India, told PTI.

Mani was replying to a question on how the company plans to break into the top-three league in India -- currently a stranglehold of brands such as Xiaomi, Samsung and Vivo. Lenovo India on Thursday launched three smartphones - Lenovo A6 Note, Lenovo K10 Note and Lenovo Z6 Pro - in the country at price points of Rs 7,999, Rs 13,999 and Rs 33,999, respectively.

Lenovo is also leveraging India as a manufacturing base, through contract manufacturing, and has also begun exporting from India, recently.

The exports have commenced to markets, including the Middle East and parts of Africa, and even a consignment to Japan, Mani said adding that export operations began 6-7 months ago. "We are keen to continue manufacturing in India and any export benefit which comes will only help us," Mani said.

Lenovo will chase a multi-pronged strategy in the country, including Made for India (customisation of products for the local market); Make for India (manufacturing operations), and strategic partnerships.

"Any company which seeks out emerging markets, definitely seeks India as a pillar. So, India is among the top-five markets in volume terms already but now, the company is saying how do we grow emerging markets business in a significant way," he said adding that other large markets for the company include US, Brazil and Mexico.

The company expects the Indian smartphone market to grow about 5-7 per cent in the second half of this year and hopes to be ahead of the growth curve. "Compared to other industries where you see a slowdown, the innovation-centricity of this category and the number of launches ensures that the category will continue to grow," he said.



Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp