Computer and smartphone-maker Lenovo on Wednesday said it is targeting an increase in its market share in India from the current 18.1 percent to more than 20 percent this very fiscal.
The gain in market share, implying sales of over a million units in the desktop and laptop space, will push the company to the number one spot, Lenovo's director of marketing, Bhaskar Choudhuri, told media persons here.
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"The market in the country is relatively flat and is expected to remain so in the coming days. In this scenario, our aim is to focus on increasing our market share," Choudhuri said.
According to Choudhuri, a dampened economic scenario and the low pace of technological innovation are the primary causes for the stagnant PC market scenario. "We need to be faster," he said. The company claimed to have the third largest market share in the desktop and laptop segment.
The refresh rate (pace of consumers changing PCs) has gone up from the former three-year period which has resulted in lower sales to consumers buying their second PC or changing the existing one, he said. Also, the company expects the upcountry markets to drive growth this year.
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In the smartphone segment too, Lenovo is expecting to increase its market share to feature among the top three largest players in the country. Lenovo-branded phones command a share of 4.4 percent in the market while Motorola-branded phones have a 2.2 percent market share.
"We are coming up with a new product in the smartphone space next week," he said. The company has entered into an agreement with Flextronics to manufacture smartphones in India.