Lenovo has already made significant inroads in the Chinese smartphone market, but it hasn’t done much to capture Western markets. This might be about to change over the next year or so.
Lenovo CEO Yang Yuanqing told the Wall Street Journal that the company could enter the US market next year. He said smartphones are Lenovo’s new opportunity and that his company is serious about the market, as it is seen as a potential source of long-term growth. Capturing the US market won’t be easy, as it is a bit more competitive than China.
However, Lenovo is planning to roll out new high-end phones in China, in an effort to break Samsung’s and Apple’s dominance in the 3,000+ yuan market. Its latest smartphone, the K900, sells at 3,299 yuan, or $538. The company is hoping to attract more affluent consumers who tend to buy Samsung and Apple phones.
Lenovo senior vice president Liu Jun told China Daily that the company aims to become the top smartphone vendor in China within two years. We strongly suspect that it will not limit its high-end push to China, and would not be surprised if the first Lenovo high-end phones tip up in Europe and the US quite soon.