Lenovo has set its sights on achieving 60 million smartphone sales in its 2013 fiscal year, which started April 1, as it looks to be more competitive against rivals Apple and Samsung Electronics.
According to a China Daily report Thursday, Liu Jun, senior vice president of Lenovo Group, identified Apple and Samsung as its biggest competitors and possible hurdles to the company achieving its sales target for the year.
Citing IDC figures, the report noted Lenovo shipped 23.5 million smartphones last year and represented a growth of more than five times year-on-year. The new sales target of about three times growth is more moderate by comparison.
Domestically, Lenovo is currently second in terms of market share behind Samsung, which has 16.7 percent, but ahead of Apple. However, research firm Gartner predicts 2013 to be Lenovo's year to leapfrog its competitors and lead China's smartphone market.
It said the company was the only local smartphone player able to compete with top global brands in the country due to its household brand recognition, nationwide distribution, strong portfolio and reasonable pricing. Its smartphones also target the mid-to-lower end market, where global brands are less competitive, Gartner pointed out.