The Indian market of Lenovo featuring ultra-slim laptops experienced a growth of 202 per cent on YoY in the financial year of 2017-18
A senior executive of Lenovo – a China-based technology company, popular for its laptops and mobile phones, has stated that the company is eyeing to obtain more than 500 per cent growth in the ultra-slim laptop market in India.
A 200 per cent growth in the FY17 has given inspiration to gain more
As found by a German market research company Gfk, Lenovo India saw a growth of 202 per cent Year-on-Year (YoY) in the financial year 2017-18. Speaking about the new target, Rahul Agarwal, CEO and Managing Director (MD), Lenovo India said: “In the ultra-thin category, we would want to continue the triple-digit growth without a doubt. We are targeting more than 500 per cent growth this year.”
A strong portfolio to feed the growing Indian market of ultra-slim laptops
As its first attempt to hit the market, Lenovo has launched a premium ultra-slim laptop Ideapad ‘530S’, which is available at a starting price of Rs 67,990. It also launched another Ideapad ‘330S’ at Rs 35,990. The company is planning to expand its portfolio even more but a timeline hasn’t been specified yet. This portfolio will include a complete range of ‘Series 1’ devices “right from entry-level to super-premium devices in the ultra-slim range.”
Lenovo has also noticed a shift in spending on ultra-slim laptops by Indian consumers therefore, price-sensitive customers are preferring premium devices that are above Rs 50,000 price segment. According to this, the new Ideapad ‘530S’ has a metallic finish, 8th-Gen Intel core processor, weights 1.67 kg (24 per cent more lighter than the conventional ultra-slim laptops) and comes in both 14 and 15.6 inches, respectively. Agarwal said, “We hope to become the market leader in India which grew by 50 per cent last year with the expansion of ultra-slim laptops.”