Lenovo has confirmed plans to start selling smartphones stateside within the next year, according to a report by the Wall Street Journal. The company is already the second-biggest smartphone maker in China with a market share of 11.4 percent, trailing Samsung’s 17.4 percent share. Although its reach is rather limited elsewhere, the company just begun expanding beyond its home country, targeting emerging markets initially.
Lenovo's smartphone sales have grown dramatically, with domestic shipments last quarter more than doubling from the previous year, and its mobile unit achieving profitability for the first time on revenue of $998 million.
There's currently very little information in the way of when Lenovo plans to officially start selling handsets in the US or what kind of devices will be on offer -- the company has been focusing on Android for its smartphone push and so far it’s one of the few to offer a device with an Intel chip inside.
Lenovo CEO Yang Yuaqing noted that the smartphone market “is more like the fashion industry," with high-profile competitors such as Apple and Samsung launching big marketing campaigns on a regular basis. His company plans to adjust its strategy for the US market accordingly and strengthen their marketing efforts.
Lenovo has been challenging PC market trends quarter after quarter with record revenues. It’s already a top five vendor in the US and is poised to overtake HP as the largest globally. But even though it remains optimist on PCs, Lenovo, like everybody else sees the mobile market as an opportunity longer-term growth.