Personal computer (PC) maker Lenovo expects to register a 30-40% growth in its business in India this financial year, a top company official said on Wednesday at the launch of its latest laptops and PCs. "This year, we will grow our business in the range of 30-40% on a year-on-year basis," Lenovo India Managing Director and Chief Executive Officer Rahul Agarwal said. He was speaking on the sidelines of the launch of artificial intelligence-based ultra-slim PC 'Yoga S940' and other computers.
The firm also unveiled new models of IdeaPad tablets, Yoga all-in-one desktops and ultra-slim notebooks in the price range of Rs 23,990 to Rs 1,69,990 a unit.
The company's growth expectation comes mainly on the back of demand for its ultra-slim notebooks and a 1.5 million laptop order it bagged from the Tamil Nadu government.
"We will execute the ELCOT (Electronics Corporation of Tamil Nadu Ltd) order in this quarter. It is one of the largest projects globally. Other state governments also purchase laptops every year but they are not as big as Elcot," Agarwal said.
He said that despite weak growth in the laptop industry, Lenovo has been able to register a 10% growth globally and India business grew higher than the global business.
"We have gained 4.2% share in India in the past two years," Agarwal said.
Lenovo India Consumer Business Head Shailendra Katyal said the ultra-slim notebook category is expected to contribute around 60 per cent of the company's overall PC business in the country by the end of the current financial year.
"We have around 26-27% market share in the ultra-slim category and expect to cross 35% by the end of this fiscal," Katyal said.