Lenovo, which has been working non-stop to popularize its laptop range (which currently takes up 80% of their total sales) is currently seeking other ways to broaden its financial horizons. The most popular idea for profit within the company has been a serious expansion and push into their mobile side. So that's exactly what they're going to begin doing, as of now.
In China, Lenovo is the number 2 most popular smartphone lender, taking up over 11% of the market. In a country filled to the absolute brim with people, this is a huge margin. As of right now, China currently has over 1 billion mobile phone users. Lenovo feels that if it can tap into this market, as well as other mainstream markets, it may be able to make a serious case for itself.
The goal for Lenovo this fiscal year (Which ends in March of 2014) is to sell 50 million phones, a number that is certainly within their range. For comparison, Samsung has sold over 10 million Galaxy S 4's to date since launch, and that number is expected to rise incrementally as time goes by. It's not entirely implausible that Lenovo can reach its goal and if they do, it'll show their group of investors that they have the reach needed to initiate the growth expansion.
The biggest hurdle for Lenovo will be the U.S.A market, which has struggled to take them in with stride, where it so far has only sold laptops. Their biggest rivals there will be Samsung and Apple, but we remain confident for Lenovo. After having tested some of their products, we felt they were of a decent quality. It should be interesting to see how Lenovo sets its sights for long term growth in the mobile market, outside of the laptop one.
SOURCE: Phone Arena