PC maker Lenovo expects to grow by 25-30 percent in the current financial year due to an increase in demand from the education segment and large enterprises, a top company official said.
However, the growth may decline in the next financial year, Lenovo India CEO and Managing Director Rahul Agarwal told, adding that the company has always grown in double digits and will continue to maintain the trend. Lenovo is also planning to start manufacturing tablets in India and expand laptop manufacturing by about 10 times. "It has been a roller coaster ride this year, but we will grow by 25-30 percent for the full financial year if we remove the ELCOT deal.
The ELCOT deal was 1.5 million PCs which has not happened this year," Agarwal said. "The consumer market is to be 4 million. It has been flat for the last 5 years. It is suddenly exploding because of learning from home and is growing by 40 percent," he added. In 2019, Lenovo India had bagged an order from ELCOT, the nodal agency for procuring electronic hardware and software for Tamil Nadu government and its schemes, for providing over 1.5 million laptops to students in the state. Agarwal said B2B (business-to-business) demand is still muted and it may grow by 4-5 percent for the full year.
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