The Chinese-based electronics corporation Lenovo Group Limited recently announced that they would be entering into the highly competitive U.S. market inside with their own line of smartphones. In 2012 Lenovo was ranked the world’s second-largest vendor of personal computers by sales in the world and only recently began trying to sell their smartphones outside of China in emerging markets such as India and Russia.
While we may know Lenovo for their ThinkPad line of laptops and other computers, Lenovo’s smartphones is not, for the moment, part of the highly competitive U.S. market. Now the Chinese-based electronics giant feels they have what it takes to be part of the action. Lenovo says they would be entering into the U.S. market in about a year’s time.
Lenovo is currently one of the fastest-rising smartphone makers today.
In a recent interview with the Wall Street Journal, Lenovo CEO Yang Yuanquing says he wants to see his company selling smartphones in the gadget hungry U.S. within a year. He feels that smartphones will be Lenovo’s next big growth for the company. Beginning in 2012 Lenovo began selling in emerging new markets such as India and Russia and have done well, but still only make up a small percentage of the worldwide smartphone market.
The Lenovo P-770
When asked why the company was looking into smartphone sales when their PC industry was doing well, Yuanquing said, “As a company you always have to consider how to grow…Smartphones are our new opportunity.”
Globally speaking, PC sales have slumped due to buyers moving over to mobile touch pad devices such as tablets and smartphones. Lenovo realizes that if they are to stay competitive they must try to tap into the highly competitive market in North America as well as any newly emerging markets.
Lenovo is currently the second largest smartphone maker in China and just behind sales of the South Korean-based Samsung. Last year Lenovo sales in China jumped 11% from 4.1% the previous year; all the while Samsung kept the same 17.4% share fof the market for both 2011 and 2012.
Source: The Wall Street Journal