Although the personal computer space is going through a rough phase globally, Lenovo is not all that worried. Rather, it believes that India could be the next big market for the company. In a recent discussion with ET Now, Yang Yuanqing, Chairman, Lenovo, said the company would increase its investment in India soon and commence the
local manufacturing of all the products that are to be sold in India.
Discussion with Modi
Yuanqing met with Prime Minister Narendra Modi who wants to spread e-governance and make education cheaper. Yuanqing said that the company’s strategy is in sync with Mr. Modi’s vision. Mobile phones can play a huge role in spreading education across the country. Lenovo will look forward to developing devices that are equipped with high-end technologies, but are cost-effective, he added. Lenovo is working towards developing smarter connectivity and smarter devices. The company is gearing up to provide the cheapest, fastest, smartest, and technologically advanced devices.
Investing in India
Yuanqing also talked about Lenovo's plans to make fresh investments in India, which has ~10mn PCs and is likely to climb to 50mn PCs in the next decade. Further, people would like to own at least two devices, i.e., smartphones and smart computers. Lenovo will make fresh investments in R&D, manufacturing, and seek to achieve market expansion, he said.
Lenovo will set up a plant in Pondicherry to manufacture PCs. It already has a smartphone factory in Chennai and is looking forward to foray into other parts of the country. Lenovo will continue to follow Indian regulations to ensure that its business runs in a hassle-free and easy manner, he added.