Lenovo India, the Chinese electronics giant, reported 14% increase in sales previous fiscal year that market experts credited to the performance of Lenovo and Motorola, its 2 handset brands. This was credited to handsets given that PC market had dropped previous fiscal that affected all the biggies in the industry.
As per the latest regulatory filings of the company, sales of Lenovo India lifted to Rs 11,950.13 Crore in the year that concluded in March 2017. This was more in comparison to Rs 10,483.62 Crore a year ago. In complete terms, speed of growth for Lenovo India last fiscal came down considering it increased by 87% a year prior to that, but industry experts credited it to a huge base effect, almost 15% drop in trades of the PC industry and sales of smartphone getting impacted after demonetization.
“Vivo, Oppo, and Xiaomi had consumed sales of all companies previous fiscal, comprising Motorola and Lenovo. On the other hand, this fiscal sales development of Lenovo will be improved considering Vivo and Oppo’s sales increment has dropped down. In addition, it is boosting offline extension of the Motorola that is getting all the attention. Even the PC industry boosted in the period of July–September,” an industry expert claimed to the media in an interview.
In its filings to the RoC (Registrar of Companies), Lenovo India also claimed that it has transported its business of data center to a new group organization, Lenovo Global Technology India, capitalizing it at Rs 24.95 Crore. The firm in its filing claimed that this was carried out to make sure that it can expand and concentrate on its flagship business of desktops, laptops, and mobile handsets.
An email conveyed to Lenovo India did not give out any answers until this week, as per the media reports and the resources.