 "Lenovo")
Chinese tech major Lenovo on Wednesday said it has set a $6-billion (Rs 40,000 crore) annual revenue target in the next three years and become one of the top 20 companies in India. At present, Lenovo's revenue from India operations stand at $2.5 billion (Rs 16,000 crore).
"In the next three years, I have given a target to reach $6 billion and to be among the top 20 companies in this country," Lenovo CEO Yuanqing Yang said here. "I was here three years ago, I had challenged the India team to achieve $800 million in revenue. This year, we will achieve $2.5 billion in revenue. We will become top four of the 50 companies in the country," he said.
Yang, who also met Prime Minister Narendra Modi, said this was the perfect time to be in India. Yang, along with Lonovo India managing director Rahul Agarwal and Lenovo Asia Pacific chief operating officer and Lenovo India Chairman Amar Babu met Modi for about 40 minutes.
Asked about his meeting with Modi, Yang said they had a very good conversation and he was encouraged by the Prime Minister's vision.
"I have committed to Prime Minister Narendra Modi about Lenovo's involvement in Digital India and Make-in-India campaign,” Yang said. "We talked about digitalisation of the country, promoting mobile phones, how to connect services with devices. Definitely, he is an expert in high tech areas. It's very encouraging," he added.
He further said that Lenovo has committed to investing more, not just in manufacturing but research and development (R&D) as well.
After indigenising its production in the country, Lenovo is exploring options to transform India in to an export hub in the future. “We just announced manufacturing of smartphones in India and we will export to other countries in the future. Lenovo will invest in R&D as well, not just in making devices but software, total solutions to help sectors like education and health”, he said.
Lenovo had acquired Motorola Mobility in a $2.9-billion deal from tech giant Google last year.
Lenovo and Motorola together had a six per cent market share in the Indian handset market, ranking fifth in the tally after Samsung, Micromax, Intex and Lava.
