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According to a senior official at the company, Lenovo India, a maker of personal computers (PCs), hopes to strengthen its position in the Indian consumer PC market this fiscal year by showcasing its portfolio of gaming devices and AI-powered PCs.
By the end of this year, the business anticipates that 20 percent of the consumer PC market will be AI-powered.
According to Ashish Sikka, director and category head of Lenovo India, the company is seeing “much higher than anticipated” demand for AI-enabled gadgets.
He anticipates that as more original equipment manufacturers (OEMs) release these kinds of gadgets, sales will increase in the second half of the year.
“The business is at a turning point, much like how the phone industry changed from feature phones to smartphones. By the end of this year, AI PCs should account for about 20% of the consumer market. Adoption will happen much more quickly as we advance,” he declared.
Sikka claims that AI-enabled PCs provide users with a number of advantages over traditional PCs. With more adoption, these features should increase.
“At the moment, use cases include features like hyper-personalization, such as email composition and user downtime measurement. Second, AI PCs can do a wide range of functions locally without the need for the cloud. As a result, a large amount of data stays on the host PC, increasing efficiency. Since a large amount of the host PC’s data is still there, enhanced security comes in third, he continued.
The PC manufacturer had announced intentions to invest $1 billion over three years to expand its infrastructure solutions in June of last year. This is an attempt to speed up the implementation of AI for businesses worldwide, in collaboration with significant players in the IT industry like Microsoft, Nvidia, Intel, and Qualcomm.
“We have made some very attractive long-term bets, such as those on gaming and AI PCs. Growth is evident in the price ranges of $500–800 and above $800. These are mostly our AI and gaming PCs. In the future, we are certain that gaming and AI PCs will contribute significantly to market growth,” he stated.
This fiscal year, the company anticipates that a large portion of its growth will come from its gaming portfolio.
“It is estimated that the gaming market would expand by 15-20% this year. Our goal for the current fiscal year is to double the market growth rate in our gaming portfolio. Sales of our gaming portfolio have increased 400% over the last five years, with a compound annual growth rate (CAGR) of more than 50%, according to Sikka.
Sikka went on to say that Indian gamers have shown a tremendous interest in the company’s two gaming sub-brands, Legion and LOQ. “Those who are looking at gaming PCs are also interested in content creation and high-performance laptops,” he stated.
In the first quarter (Q1) of 2024, 3.07 million desktops, laptops, and workstations were shipped from India. The International Data Corporation (IDC) reports that this is risen 2.6% year over year (Y-o-Y).
In terms of market share, Lenovo trailed market leader HP a year ago in Q12023.
Even though Lenovo’s shipments decreased by just 1.3% year over year in the first quarter of this year, Dell and Acer outperformed the brand. These currently hold the second and third positions with respect to the total market share.
Lenovo ranked fourth in the business market this year with a share of 16.3%, while it was second behind HP in the consumer segment with a share of 13.5%, according to IDC data.
The vendor did well in the small and medium enterprise area but suffered in the government sector.
“There has been more of an inventory correction than a reduction in market share. We wanted to make sure that we have the appropriate amounts of inventory in each category as we started this fiscal year. Moving forward, our approach won’t change, Sikka stated.
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