Global technology major Lenovo aims to double its business in India over the next three years, banking on a surging Motorola smartphone segment and "high double-digit" growth in its infrastructure and services verticals, a senior company official said.
Lenovo Asia Pacific president Amar Babu believes Lenovo's future growth trajectory will be fuelled by domestic consumption and the "India for the world" innovation strategy.
"Lenovo in India is a growth story. And the opportunity exists to sustain that growth story across all our businesses. Our Motorola business has done exceedingly well. We've more than doubled our revenues in the last two years. Our infrastructure business is growing in high double digits. Our services and solutions business are growing in high double digits. Our hope and our vision is that we'll be able to double our business in the next three years, said Babu.
"And if we are able to achieve that, of course, with the right level of innovation, infrastructure and contribution to the local economy, while continuing to invest in our back-end capability and build this narrative: of India, for India, and India for the world... I see India as a growth business, as a growth market for Lenovo worldwide," he said.
Babu noted that Lenovo India is one of the fastest-growing markets for the company worldwide, registering growth in excess of 20 per cent. Lenovo is designing its mainstream servers in India, and a significant portion of software for Motorola phones is developed locally.
Regarding Lenovo's hiring plans in India, while Babu did not share specific numbers, he affirmed that the company would continue to add resources ahead of the curve to support business growth.
"When a business grows, we will add resources as needed. We will add infrastructure as needed. And we've been doing that very consistently ahead of the curve. India is one of our fastest-growing markets. With that opportunity, with that growth, we will definitely continue to invest, hire and make sure that we are able to build the right talent base. India's talent market is incredibly attractive. And we have India talent not just for our India operations, we have our India talent across all of Lenovo across the world," Babu said.
Lenovo India reported a 23 per cent year-on-year increase in revenue at USD 1.2 billion in the September quarter, aided by strong demand fuelled by digitisation, premiumisation and improved consumer sentiment following the GST rejig.
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