Lenovo is expecting its premium category laptops to register a growth of 40-50 per cent in the ongoing quarter over the same period a year ago, a senior official of the company has said.
Shailendra Katyal, executive director, consumer PCSD, Lenovo India, said the growth in the premium category has come from people in top 100 cities upgrading their existing devices for longer user.
"Premium category has grown 40-50 per cent (as per estimates for current quarter)... and when the year ends, it may be more. The market is likely to come close to the 6 million mark. Last 2-3 years, it was in the 4-4.2 million range," Katyal said on the sidelines of launching a new model in Yoga convertible laptops.
The final numbers for the quarter are yet to come. The company unveiled Yoga Slim 7i Carbon laptop for a starting price of Rs 1.1 lakh that will go on sale in the country from March 23.
Katyal said that most of the growth has come from refresh purchases. "Existing users have upgraded. People have seen that when you have to spend 6-8 hours there, they don't want to compromise. People were moving towards premium products but the premium segment contribution in the overall market has gone up from 20 per cent to 35 per cent," Katyal said.
He said the growth in the segment is coming from top 100 cities and not from the first-time buyers or rural areas. The company has used carbon fibres to reduce the weight of the laptops and enhance durability.
"Now, we have brought a consumer device which passes 9 military-grade specifications. When someone buys a premium category product they don't want any compromise on the quality," Katyal said.
He said that the demand for gaming laptops was not there in India 2-3 years back but it has exploded which is driving demand for the premium category.
Katyal said the growth momentum is expected to continue as the situation is not expected to fully open in the next three months and part of the session is likely to continue online.
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