Lenovo plans to launch 8-9 phones in 4 months

NEW DELHI: Chinese handset maker Lenovo is planning to aggressively expand its smartphone range with the launch of launch 8-9 new models in the next four months to quickly increase sales, which would help it to increase smartphone share in the market, where growth has slowed down over last one year.

The company aims to capitalize on the upcoming festive season, which includes Rakshabandhan, Auggust, and Diwali. The upcoming festive season typically makes up 45-50% of total volume of the year for handset vendors in the country.

"Diwali starts today for us. The new models will be launched under Vibe and Moto brands, and one of them will also be in the premium range of more than $700," Sudhin Mathur, executive director of Mobile Business Group at Lenovo.

Lenovo on Monday launched Vibe K5 Note smartphone, successor to the Vibe K4 Note, in India starting at Rs 11999 for a 3G RAM variant. The phone features a 5.5 inch Full HD IPS display and runs Android Marshmallow OS. The 4 GB RAM variant of the device is priced at Rs 13499, and will be available for sale from August 4 on Flipkart.

Mathur said that Lenovo's K series franchise has sold more than 3 million phones in over a year, while Moto G3 and G4 have sold a million units each in the country. "The K5 Note will easily achieve this target," Mathur said.

Lenovo (including Motorola) maintained fourth spot with a market share of 8.3%. Motorola refreshed its portfolio during the quarter and is now contributing to more than 25% of the Lenovo's total smartphones, according to Hong Kong-based market research firm Counterpoint.

India's smartphone segment grew 15% on year in the second quarter ended June 30, sharply lower from the 23% growth seen in the previous quarter and from 34% in the second quarter of 2015.

Picture: Lenovo India (Twitter)

Lenovo India, which had filed an application under single brand retail license for opening its own stores a couple of months ago, is internally evaluating the changed local sourcing norms, according to Mathur.

The company's own stores are likely to house all its products - laptops, desktops, mobile phones and accessories, under one roof. It currently sells products in India through a network of about 950 franchised stores.

Also read: Lenovo India appoints Rajesh Thadani as new consumer business head

Also read: Lenovo applies for single-brand retail permit in India

Source: Lenovo plans to launch 8-9 phones in 4 months