Legend: Within one year reached U.S. smartphone market
Lenovo Group Ltd. Chief Executive Officer Yang Yuanqing said the company hopes to begin within a year in the United States sales of smart phones, hoping to replicate the success of the personal computer business.
In the traditional PC business on the occasion of shrinking demand, Lenovo is a major push into the smart phone market. Currently individual consumers spending on mobile devices is growing, and the economic downturn forcing companies to postpone purchasing office computer customers.
Lenovo's PC industry has outstanding performance, not only good sales, and profit margins continue to rise. But the company is also looking for new long-term growth. Yang said in an interview said that the smart phone is a new opportunity.
He said that as a listed company, we must always consider how to achieve business growth, although its core business as Lenovo's PC business is currently very strong.
Although late to enter the mobile phone market, but Lenovo in China smart phone market share has been ranked second only to Samsung Electronics. Research firm International Data Corporation (IDC) provides data show that last year, Lenovo in China smart phone market share climbed to 11% in 2011, only 4.1%, while Samsung's market share last year, 17.4%.
Since last year, Lenovo began to expand in markets outside China smart phone business, first in India, Russia and Indonesia and other emerging markets. The next challenge facing the company will enter the United States and Europe and other more mature markets.
Although the domestic consumers is a household name, but the association in the overseas market is still in its infancy, especially in the U.S. and other mature markets, it is expected that the company will face fierce competition in the U.S. market. International Data Corporation's information display, Lenovo is currently hot pursuit of Hewlett-Packard Company, is expected to become the world's largest PC market share of producers; But in the U.S. market, Lenovo's market share in the most recent quarter was only 9 percent, ranking fifth.
Yang said that the smartphone market is more like the fashion industry, the company knows the importance of marketing, will increase efforts in this regard.
In addition to marketing, the association may also have to develop new smart phone sales channels. Many emerging markets in Asia, mobile devices are mainly sold through retailers. However, in mature markets, mobile phone manufacturers need to rely more on telecom operators as well as provide them with subsidies, these subsidies will help reduce upfront costs to buy mobile phones.
Yang said that if a deal can help Lenovo quickly build brand influence, the company will be considered. He also said that this principle also applies to the smart phone business. He said the association through acquisitions in mature markets may get a new smart phone sales channels. But he declined to disclose whether there is any association specific acquisition plans.
Earlier this week, Yang Yuanqing results conference at the company said that despite the company's smart phone business in China has been profitable, but profit is not large. He said that in the short term smartphone does not become a major profit growth point, because the company will expand its overseas business for marketing and other aspects of the investment.
The company will strive to the current fiscal year sales of smartphones from the previous fiscal year increased to 5,000 3,000 ten thousand ten thousand. Lenovo's last fiscal year ending in March.
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