Chinese technology major lenovo is betting on India to contribute significantly to its global growth even as smartphone sales slow down in its home market. lenovo, which received about $one billion in revenue from India last year, is also looking at bringing in more premium devices here, including new Moto Z smartphones that can be customised with ‘mods’.
‘Mods’ are specialised pieces of hardware that snap into place magnetically to give the handsets added capabilities. “We will continue to invest in the market and grow our share here, there is a strong long term potential,” lenovo Senior Vice President and Co-President Mobile Business Group (MBG) Aymar de lencquesaing told reporters here. He added the potential in the Indian market is huge as 4G networks are being rolled out by telecom operators and there is robust economic growth. “We have a share of about nine per cent and we are focused on growing that. Getting to double digits should not be difficult,” he said.
last year, lenovo’s revenues from India grew about 90 per cent, even as that from China declined 26 per cent. Overall, revenues grew 68 per cent. According to research firm Gartner, smartphone sales are expected to slow down in 2016 globally, rising only seven per cent compared to double digit growth seen in previous years.