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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Food delivery agent intervenes to stop street fight in Delhi's Dwarka, stabbed to death
New Delhi (PTI): A 32-year-old food delivery executive was stabbed to death when he allegedly intervened in a violent altercation between two groups in southwest Delhi's Dwarka, police said on Monday.
The deceased has been identified as Govind Jha, a resident of Mohan Garden.
Three others sustained stab injuries in the incident and are currently undergoing treatment at a hospital, they said.
Authorities also cautioned against attempts to give the incident a communal colour.
According to the police, Jha was on his way to work on Sunday night when he noticed a street fight taking place at Rajapuri in Madhu Vihar area of Dwarka. The altercation involved two men pitted against three others, who were later identified as Parvesh, Anish and Rohit.
"Jha stopped at the spot and attempted to intervene. During the scuffle, the two men allegedly pulled out knives and began stabbing Parvesh, Anish and Rohit. When Jha tried to intervene, he was also attacked," a police officer said.
All four injured persons were rushed to a nearby hospital, where Jha succumbed to his injuries during treatment. The other three men are under medical observation.
Police said the accused fled the spot after the incident, and multiple teams have been formed to identify and apprehend them.
Meanwhile, Deputy Commissioner of Police (Dwarka) Kushal Pal Singh, in a statement, said that some messages circulating on social media are attempting to give a communal angle to the incident.
"In the incident, four people suffered stab injuries and were admitted to the hospital. One person died at the hospital, and the remaining three are undergoing treatment. The victims belong to two different communities. The accused stabbed all four victims. Dwarka Police is conducting a search for the accused," the DCP said.
"There is no communal angle to the incident. Strict action will be taken against those spreading false information," he said.
