Lenovo CEO Confesses Making Errors In Smartphone Market Of India
Confessing that Lenovo made some errors in India in the smartphone business, the firm’s CEO Yang Yuanqing this week pledged to reclaim its earlier glory in the coming years by rolling out right goods for the India market below both its Motorola and Lenovo brands.
“India is a very significant market for us. We have room for enchantments in the handset business,” Yuanqing claimed to the media here while taking part in a roundtable meeting. The meeting was along with other Lenovo Executive Council’s members. The council is the highest decision-making entity of the firm.
“In general, our aim is to create income of almost $6 Billion in the upcoming 5 Years from India,” Yuanqing claimed to the media in an interview. He further added that the firm is aiming on branching out all verticals of its businesses comprising the PC (personal computer) and smart devices section that comprises data center business and tablets apart from handsets section.
While Lenovo’s tablet and PC businesses have carried on to post healthy development over the last few years in India, its market share in the handset business witnessed a drop in the 2017–2018 fiscal year. This dropped down to almost 6% from 9% in the last financial year, claimed the firm mentioning data from the IDC (International Data Corp).
On a related note, the execution of 5G tech is attaining momentum and handset manufacturers are now aiming on bringing their 5G handsets to the market. Taking the lead, Lenovo has verified that it will be the first handset creator to roll out a 5G handset fueled by Qualcomm Snapdragon 855 chipset.
Recently, a leak emerged online recommending that Qualcomm has started the mass manufacturing of its processor since June. If the rumor is true, then the firm might roll out the handset by the end of 2018 or the beginning of 2019.
