The company, which sells more phones than Samsung in China, aims to sell 1 million smartphones in India next financial year.
Lenovo Group, the Chinese technology company that earns about 80 percent of its revenue from personal computers, is betting it can also be a challenger to Samsung Electronics Co Ltd and Apple Inc in the smartphone market.
Lenovo Group Ltd said on Tuesday it was establishing a smartphone assembly unit in India.
China's personal computer giant Lenovo Group on Wednesday announced in Beijing that it had signed an agreement with IBM to take over the latter's personal computer business for $1.25 billion.
China's multinationals, powerful as they seem, are still beholden to the Communist Party. That's both a blessing and a burden.
The company is already setting up shop elsewhere in Asia in Malaysia, Singapore and the Philippines.
He has been a long time Blackberry fan and user.
Apple Inc and Google Inc's Motorola Mobility unit have agreed to settle all patent litigation between them over smartphones, ending one of the highest-profile lawsuits in technology.
Pending final approvals, Huawei would become the first big-name Chinese phone maker to manufacture hardware in India's growing market.
Local residents say until about two months ago, this board carried the name of Motorola, which once had a manufacturing unit in Sriperumbudur, 40-odd km from Chennai in Tamil Nadu. In May 2020, Luxshare Precision Industry Co, a China-headquartered AirPods and iPhone assembler, had entered into a deal with the Tamil Nadu government to take over the defunct Motorola unit.
The company is headed for its worst annual profit in three years, under siege as Chinese firms like Xiaomi and Lenovo reel in buyers with full-function touch-screen smartphones that are cheaper.
Suppliers to Apple Inc are scrambling to get enough screens ready for the new iPhone 6 smartphone as the need to redesign a key component disrupted panel production ahead of next month's expected launch, supply chain sources said.
The government on Wednesday approved a Rs 7,350-crore scheme to boost production of laptops, tablets, all-in-one PCs and servers in the country, as it sought to woo global and domestic players to take advantage of India's manufacturing prowess. Production worth Rs 3.26 lakh crore and exports of Rs 2.45 lakh crore are estimated over the next four years under the new scheme, which is expected to create 1.80 lakh jobs. Briefing reporters after a meeting of the Cabinet, Communications and IT Minister Ravi Shankar Prasad said the Production Linked Incentive (PLI) scheme has been approved for IT hardware products that would cover laptops, tablets, all-in-one PCs and servers.
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