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Lenovo plans to cross $1.5 billion in revenue from Indian market

Updated : September 17, 2019 20:19:56 IST

Chinese tech major Lenovo, the worlds top personal computer maker, is aiming to cross revenue of $1.5 billion from the Indian market.

In an interview to CNBC-TV18's Shereen Bhan, Rahul Agarwal, managing director and the chief executive officer said, "India is one of the top five countries for Lenovo and this market is still growing at a double-digit pace."

Agarwal said, "In India, the market has not de-grown. On revenue, if I look at the last three years, it has been growing at double-digit. Even if I add consumer to it, together the market has grown. Commercial, of course, has grown more without a doubt. The consumer has been on a bit of decline but more and more people are buying more expensive laptops and computers."

He further added, "If I breakdown our world into two parts - the commercial still is strong, it is growing at double-digit. If I look at the consumer part of the market, the entry-level of the market is definitely seeing a slowdown. However, when I look at the number of people who are buying premium products which is anything more than Rs 52,000, that is strong. In fact, they are spending more and more money. The number of people who are buying gaming laptops which cost more than a lakh is actually growing at a breakneck speed."

Speaking about outlook for India in Lenovo's global plans, he said, "India is definitely one of the top five countries worldwide. India is also the only country where the Lenovo brand is strong. Both our brands, Thinkpad and Moto is also strong in India. So, it does give us a unique place and the opportunity to really play in all the directions."
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