Lenovo No. 3 in India after Motorola acquisition

China's Lenovo has completed its $2.9-billion acquisition of Motorola Mobility, making the Lenovo-Motorola combine the third largest smartphone entity in India, one of the fastest growing smartphone markets in the world.

"Motorola and Lenovo together would be No. 3 in the market (India) which would be the case in many markets that both brands operate," spokespeople from both companies said in a conference late Thursday evening.

Lenovo and Motorola together form the third-largest smartphone player worldwide, according to data from research firm IDC pushing rival Xiaomi from the No. 3 position down to No 4.

IDC worldwide smartphone data showed Samsung leading with 23.8%, followed by Apple with 12%, Xiaomi with 5.3% and Lenovo following closely with 5.2%, and LG at No. 5 with 5.1%.

"Lenovo has a very good smartphone business in India through the offline channel. Motorola is present only on line. It's a good combination," Liu Jun, Lenovo executive vice president and president of Lenovo's Mobile Business Group said.

"Lenovo will continue with the same market plan in India, which is an important target market," he added.

In India, Motorola is the fifth largest smartphone maker in India with 5% share of the segment as of June data from research firm IDC. Since its resurrection early this year, Motorola has sold more than two million smartphones, including the Moto G, Moto X and Moto E, at competitive prices.

The brand trails the trio of home-bred handset makers — Lava, Karbonn and Micromax — in that order with Samsung leading the country with a 29% share.

Having closed the deal, Motorola and Lenovo will continue to remain separate entities. The Motorola-Lenovo combine intends to sell about 100 million smartphones and tablets globally by the end of March next year, while Lenovo aims to bring Motorola back to profitability within four to six quarters.

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