You are here: Home » PTI Stories » National » News
Business Standard

No drastic slump in sales due to note ban, says Lenovo

Press Trust of India  |  New Delhi 

Conceding that there has been an impact on sales due to crunch following demonetisation, handset maker Lenovo today said the decline "is not as drastic" as some have made it out to be.

"It has certainly dropped but it is not as drastic as some are making it. Sales usually fall after by 15 per cent given that festive sales see a surge on offers and discounts. So, you have to take into account that as well," Lenovo Executive Director Mobile Business Group Sudhin Mathur told PTI.



He added that the growth is now coming back and the company expects strong numbers, including for its newly launched K6 Power.

According to various reports, the government's move to scrap old Rs 500 and 1,000 notes and the crunch that ensued has hit sales of mobile handsets, including those sold online.

Mobile phone industry body Indian Cellular Association has said sales have come down by 50 per cent due to crunch post demonetisation.

Research firm IDC has also indicated that the sequential decline is likely to be higher in the fourth quarter, owing to the crunch in the country since the second week of November.

"This has already resulted in significant slowdown of demand across PC and mobile devices; not just in offline retail but in online channel as well, where on delivery (COD) contributes to a substantial portion of the sales," IDC had said.

The fourth quarter smartphone shipment is expected to see 17.5 per cent sequential decline, as per IDC estimates.

Lenovo today launched the latest addition to its popular K series -- Lenovo K6 Power -- priced at Rs 9,999.

To be available from December 6 on Flipkart, the device features a 5-inch display, 1.4 GHz Qualcomm Snapdragon octacore processor, 3GB RAM, 32GB built-in storage (expandable upto 128GB), 13MP rear and 8MP front camera and 4,000mAh battery.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

RECOMMENDED FOR YOU

No drastic slump in sales due to note ban, says Lenovo

Conceding that there has been an impact on sales due to cash crunch following demonetisation, handset maker Lenovo India today said the decline "is not as drastic" as some have made it out to be. "It has certainly dropped but it is not as drastic as some are making it. Sales usually fall after Diwali by 15 per cent given that festive sales see a surge on offers and discounts. So, you have to take into account that as well," Lenovo India Executive Director Mobile Business Group Sudhin Mathur told PTI. He added that the growth is now coming back and the company expects strong numbers, including for its newly launched K6 Power. According to various reports, the government's move to scrap old Rs 500 and 1,000 notes and the cash crunch that ensued has hit sales of mobile handsets, including those sold online. Mobile phone industry body Indian Cellular Association has said sales have come down by 50 per cent due to cash crunch post demonetisation. Research firm IDC has also indicated ... Conceding that there has been an impact on sales due to crunch following demonetisation, handset maker Lenovo today said the decline "is not as drastic" as some have made it out to be.

"It has certainly dropped but it is not as drastic as some are making it. Sales usually fall after by 15 per cent given that festive sales see a surge on offers and discounts. So, you have to take into account that as well," Lenovo Executive Director Mobile Business Group Sudhin Mathur told PTI.

He added that the growth is now coming back and the company expects strong numbers, including for its newly launched K6 Power.

According to various reports, the government's move to scrap old Rs 500 and 1,000 notes and the crunch that ensued has hit sales of mobile handsets, including those sold online.

Mobile phone industry body Indian Cellular Association has said sales have come down by 50 per cent due to crunch post demonetisation.

Research firm IDC has also indicated that the sequential decline is likely to be higher in the fourth quarter, owing to the crunch in the country since the second week of November.

"This has already resulted in significant slowdown of demand across PC and mobile devices; not just in offline retail but in online channel as well, where on delivery (COD) contributes to a substantial portion of the sales," IDC had said.

The fourth quarter smartphone shipment is expected to see 17.5 per cent sequential decline, as per IDC estimates.

Lenovo today launched the latest addition to its popular K series -- Lenovo K6 Power -- priced at Rs 9,999.

To be available from December 6 on Flipkart, the device features a 5-inch display, 1.4 GHz Qualcomm Snapdragon octacore processor, 3GB RAM, 32GB built-in storage (expandable upto 128GB), 13MP rear and 8MP front camera and 4,000mAh battery.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

image
Business Standard
177 22

No drastic slump in sales due to note ban, says Lenovo

Conceding that there has been an impact on sales due to crunch following demonetisation, handset maker Lenovo today said the decline "is not as drastic" as some have made it out to be.

"It has certainly dropped but it is not as drastic as some are making it. Sales usually fall after by 15 per cent given that festive sales see a surge on offers and discounts. So, you have to take into account that as well," Lenovo Executive Director Mobile Business Group Sudhin Mathur told PTI.

He added that the growth is now coming back and the company expects strong numbers, including for its newly launched K6 Power.

According to various reports, the government's move to scrap old Rs 500 and 1,000 notes and the crunch that ensued has hit sales of mobile handsets, including those sold online.

Mobile phone industry body Indian Cellular Association has said sales have come down by 50 per cent due to crunch post demonetisation.

Research firm IDC has also indicated that the sequential decline is likely to be higher in the fourth quarter, owing to the crunch in the country since the second week of November.

"This has already resulted in significant slowdown of demand across PC and mobile devices; not just in offline retail but in online channel as well, where on delivery (COD) contributes to a substantial portion of the sales," IDC had said.

The fourth quarter smartphone shipment is expected to see 17.5 per cent sequential decline, as per IDC estimates.

Lenovo today launched the latest addition to its popular K series -- Lenovo K6 Power -- priced at Rs 9,999.

To be available from December 6 on Flipkart, the device features a 5-inch display, 1.4 GHz Qualcomm Snapdragon octacore processor, 3GB RAM, 32GB built-in storage (expandable upto 128GB), 13MP rear and 8MP front camera and 4,000mAh battery.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

image
Business Standard
177 22

Upgrade To Premium Services

Welcome User

Business Standard is happy to inform you of the launch of "Business Standard Premium Services"

As a premium subscriber you get an across device unfettered access to a range of services which include:

  • Access Exclusive content - articles, features & opinion pieces
  • Weekly Industry/Genre specific newsletters - Choose multiple industries/genres
  • Access to 17 plus years of content archives
  • Set Stock price alerts for your portfolio and watch list and get them delivered to your e-mail box
  • End of day news alerts on 5 companies (via email)
  • NEW: Get seamless access to WSJ.com at a great price. No additional sign-up required.
 

Premium Services

In Partnership with

 

Dear Guest,

 

Welcome to the premium services of Business Standard brought to you courtesy FIS.
Kindly visit the Manage my subscription page to discover the benefits of this programme.

Enjoy Reading!
Team Business Standard