The foreign mobile device markets may be dominated by Apple and Samsung, but that isn’t preventing emerging companies like Lenovo from expanding their brands overseas.
Speaking with CNBC on May 21, 2014, the Chinese company’s chief financial officer, Wai-Ming Wong, reiterated Lenovo’s intentions to strengthen its “global brand” by making use of its recently purchased Motorola division, and added that it would begin to experience “substantial growth outside of China” as it expands its existing global marketing campaigns to other regions.
CNBC reports that the Chinese PC maker is already seeing noticeable results in the Americas and EMEA, where revenues have reportedly risen by 30% in 2013. In 2014, the proportion of Lenovo’s revenues represented by regions such as Africa, Europe, and the Middle East is said to have improved to approximately 25%.
Contrary to its progress in foreign regions, Lenovo’s sales and gross margins are observed to be on a noticeable decline in China. Wong attributes this trend to the growing competition in the country, which he notes has intensified significantly during the “past few quarters.”