Lenovo expects its business to grow 77% this year

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Wednesday, June 29, 2011

Chinese PC manufacturer Lenovo expects its business in Brazil to expand 77% this year, local news service Agência Estado reported.

Last year, Lenovo's business in the country grew 75%, according to the report.

Lenovo Brasil product director Jaison Patrocínio said the company expects to reach a double-digit market share in two years. Lenovo's current market share in Brazil is 9%. "We expect to reach the second or third position in the markets," the executive was quoted as saying.

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The company has 28 retailers in the country and expects to double this figure by the end of the year, according to the report.

Lenovo is also looking to expand its presence in the country's northern and northeastern regions.

The corporate segment currently accounts for 60% of the firm's revenues in Brazil, while the retail segment represents the remainder.