Made mistakes, will bounce back: Lenovo CEO
Bengaluru, Aug 2 : Admitting that Lenovo made some "mistakes" in the smartphones business in India, company CEO Yang Yuanqing on Thursday vowed to bounce back by launching right products for the India market under both its Lenovo and Motorola brand.
"India is a very important market for us. We have room for improvements in the smartphones business," Yuanqing said while participating in a roundtable conference, along with other members of the Lenovo Executive Council, which is the highest decision making body of the company.
"Overall, our target is to generate revenue of up to $6 billion in the next five years from India," Yuanqing said, adding the company is focusing on scaling all verticals of its businesses including the personal computer (PC) and smart devices segment that includes tablets, and data centre business, besides the smartphones segment.
While Lenovo's PC and tablets business have continued to post robust growth in India over the past few years, its market share in the smartphones business has seen a decline in the 2017-2018 financial year, coming down to about six per cent, from nine per cent in the previous financial year, the company said, citing data from the International Data Corp (IDC).
"In the PC segment, we grew by 43 per cent while the market grew by just five per cent and in Tablets segment, we were no 1," Rahul Agarwal, Managing Director and CEO, Lenovo India, said.
"The dual brand strategy of rolling out smartphones under both the Lenovo and Motorola brand has not affected us adversely. We will continue to revamp product portfolios under both the brands. The two brands can be complimentary," Yuanqing said, adding the company plans to target the premium segment with the Motorola brand and the affordable and entry segments mostly through the Lenovo brand.
He added that where the company did not do too well in the past year was on its service strategies and in appealing consumers from more places within the country.
"Going ahead, we will have different product portfolios and cost structures for online and offline distribution channels," the Lenovo CEO added.
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UP CM Adityanath's plane makes emergency landing in Agra due to technical snag
Agra/Lucknow, Mar 26 (PTI): An aircraft carrying Uttar Pradesh Chief Minister Yogi Adityanath made an emergency landing at the Agra airport shortly after take off due to a technical snag, officials said.
The chief minister resumed his journey to Lucknow after over two hours, they said.
Adityanath was in Agra for a public event to mark the eighth anniversary of the BJP government in the state.
"After the programme, the chief minister was scheduled to leave from the Kheria Airport in Agra around 3.30 pm. The aircraft took off but returned shortly apparently due to a snag, which was then inspected by officials," a police official told PTI.
"The chief minister finally resumed his onward journey around 5.30 pm from Kheria," the official added.
Senior Agra district administration and police officials remained at the airport while the chief minister waited there. BJP supporters and local politicians were also present outside the airport.
Earlier in the day, Adityanath inaugurated and laid the foundation stone of 128 projects worth Rs 635.22 crore at 'Vikas Utsav' held in Agra to mark the completion of eight years of his government.
"Residents of Agra now have access to metro rail services, officially making Agra a metro city. The construction of the civil terminal at the airport is in its final stages," he said, adding that previous governments failed to provide these facilities.
