India is by far one of the most important markets in the world for Lenovo and the fastest growing in APAC, said Matthew Zielinski, President, International Markets, Lenovo, adding that in the December quarter alone the revenues in the country rose 58 per cent year-on-year.
Celebrating 20 years in India, Lenovo officials said India had a strong manufacturing footprint and its role as a major exporter for company operations globally was critical.
- Also read: Tripartite agreement signed between Tata Electronics and semiconductor players from Taiwan for display unit in Gujarat
“As we were calculating this for calendar year 2024, we built, shipped to India and shipped out of India ₹18,000 crore worth of product and material, which is a pretty large number,” said Zielinski at the Lenovo Tech event on Wednesday. Officials added that 100 per cent of the PC portfolio will be manufactured in India over the next three years under the PLI 2.0 and their own facilities in the country.
Growing potential
Speaking to media, Lenovo officials said that India, with its pace of growth, had the potential to become the company’s biggest market in Asia-Pacific in coming years. In December 2024, Lenovo had stated that India was the second-largest market for the company after Japan.
Lenovo recorded $2.5 billion year-to-date (YTD) in India, exceeding last fiscal year’s revenue. Zielinski attributed this growth to the PC business and infrastructure business, adding that business in India was up 71 per cent from April 2024 to December 2024.
- Also read: Investing ₹700 cr in renewables; margin outlook challenging: Abhyuday Jindal
Regarding the Motorola business, revenue grew about 21 per cent in revenue as a company, 15 per cent in units. Meanwhile in India, the Motorola business reached an 8 per cent market share, a 100-160 per cent growth.
“Motorola franchise in India is just absolutely booming, and 100 per cent of those materials are made in India. And we’re also exporting Motorola phones from India to the rest of the world, North America being one of the markets,” said Zielinski.
In terms of investments, the company talked about a new R&D lab in Bangalore working on next-generation artificial intelligence GPU-based servers. Regarding the advanced GPU-based servers manufactured in Pondicherry, Lenovo said the AI servers will be out by April.