Top News
Made ‘mistakes’ in smartphone business in India, will bounce back: Lenovo CEO (Second Lead)
By Gokul Bhagabati
Bengaluru, Aug 2 (IANS) Admitting that Lenovo made some “mistakes” in the smartphone business in India, the company CEO Yang Yuanqing on Thursday vowed to bounce back and reclaim its past glory in the next couple of years by launching right products for the India market under both its Lenovo and Motorola brands.
“India is a very important market for us. We have room for improvements in the smartphone business,” Yuanqing said here while participating in a roundtable conference, along with other members of the Lenovo Executive Council — 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 that 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 tablet businesses have continued to post robust growth in India over the past few years, its market share in the smartphone business saw 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 5 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 Lenovo and Motorola brands has not affected us adversely. We will continue to revamp product portfolios under both brands. The two brands can be complimentary,” Yuanqing said.
He added that the company was planning to target the premium segment with the Motorola brand and the affordable and entry segments mostly through Lenovo.
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, he said.
“Going ahead, we will have different product portfolios and cost structures for online and offline distribution channels,” the Lenovo CEO said.
(Gokul Bhagabati can be reached at [email protected])
–IANS
gb/nir
Top News
Dr. Abhishek Verma Dedicates a Shelter in Memory of His Mother, Veena Verma, at KGMU; Inaugurated by Daughter Nicolle Verma
World-renowned business tycoon Dr. Abhishek Verma has supported Foodman Vishal Singh’s Hunger-Free World mission. In memory of his mother, Late Veena Verma, who was a 3 term Rajya Sabha MP.
Dr. Verma dedicated a state-of-the-art free permanent shelter for the attendants of patients at KGMU Medical University, Lucknow, under the aegis of Vijay Shree Foundation. His daughter, Nicolle Verma, inaugurated the shelter.
During the event, Foodman Vishal Singh honored Nicolle Verma by presenting her with a memento. Mrs. Nidhi Sharma and Avantika Yadav, associated with the organization, welcomed her with garlands. Following this, Nicolle Verma distributed essential items to the attendants and also handed out fruits. She became emotional remembering her grandmother on her birth anniversary.
On this occasion, she also inaugurated the “Veena Verma Sevalaya” in memory of her grandmother, Veena Verma, to serve the attendants. She expressed, “I feel proud that my family is engaged in nation-building as well as social service. Today, in collaboration with Vijay Shree Foundation founder Foodman Vishal Singh Ji, I feel immensely proud to dedicate this shelter for the poor, helpless, and needy attendants of patients battling serious illnesses like cancer. I am honored to be associated with the Hunger-Free World Mission for humanity.”
Inspired by the continuous humanitarian service provided by Vijay Shree Foundation over the past 17 years, Nicolle Verma donated 10 lakh rupees to support the cause. The purpose of this donation is to ensure that services continue for the needy attendants of patients suffering from severe illnesses in hospitals, as facilitated by Foodman Vishal Singh.
It is noteworthy that Dr. Abhishek Verma’s family has a legacy of public and philanthropic service. They are helping millions to carry forward the values and service work of their parents. On the occasion of his mother’s birth anniversary, Dr. Abhishek Verma dedicated this state-of-the-art permanent shelter at Lucknow Medical College to serve the attendants of patients through the Vijay Shree Foundation.
Supporting Foodman Vishal Singh’s Hunger-Free World mission, Dr. Abhishek Verma assured that he would continually support keeping this flame of humanity alive. He also promised to assist in providing medicines to the helpless patients.
Continuing her grandmother’s legacy of service, Nicolle Verma personally served food to the needy patients and attendants. She said, “It is our good fortune to have received the joy of doing this noble work today through Foodman Vishal Singh. I have taken another step forward in carrying my family’s values and cooperation by joining hands with the Vijay Shree Foundation. My father taught me to serve and help the needy, and I feel happy when I bring a smile to someone’s face.”
On the birth anniversary of the late Veena Verma, the event organizer, Vijay Shree Foundation founder Foodman Vishal Singh, said, “We feel proud and happy that Dr. Abhishek Verma, a globally renowned business tycoon, has extended his support to uplift our country from the hunger index. Today, on his mother’s birth anniversary, he inaugurated a state-of-the-art permanent shelter at Lucknow Medical College, which will always be helpful for the needy attendants of patients. It is a pleasure for me and the organization to receive the affection of Mr. Verma.”
The event was attended by General Manager Verma Family Office Hemant Garg, Sonu Rajput, and the organization’s volunteers, including Sandeep Singh, Parmeshwar Ji, Prashant Rao Gautam, Balram Singh, Ramesh Chaudhary, Suman, Jeetu, Anil, Suraj, Vinay, Manish Bhadauria, Manas Mehrotra, Vivek, Apurv, Happy, and others.