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4-Traders Homepage  >  Equities  >  Stock Exchange of Hong Kong  >  Lenovo Group Limited    0992   HK0992009065

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Lenovo : Set to Open Retail Stores in Asia Pacific, Gaming Brand Push

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04/28/2017 | 04:34pm CEST

Lenovo has said that they are looking to establish over 100 Lenovo gaming stores in the Asia Pacific region, its not known if or when any Australian stores will be established.

Currently JB Hi Fi has an exclusive deal with Harvey Norman who are not seen as a destination for hard core gamers. The decision to go exclusive with the mass retailer was made by Brandan Lau the Director of Consumer PCs at Lenovo Australia.

Initially JB Hi Fi was going to range Lenovo gaming products but dropped the Chinese brand in favour of staying with the Alienware brand from Dell, which has been highly successful for the retailer.

According to Lenovo sources in Hong Kong, the new Asia Pacific stores will sell a range of gaming products including workstations, notebooks, accessories including mouse and keyboards as well as gaming bags.

We also understand that the Company who are successful direct sell operators in Australia, are also looking to sell their B2B PC range which includes Think Pads and 2 in 1 products via the new stores.

Currently Lau is banking on heavy discounting to drive consumer PC sales while at the same time investing in extensive direct sell marketing in mass newspapers and online, for Lenovo PC products a move that has not gone unnoticed by Lenovo consumer PC retail partners.

The Company are also major partners with Amazon.

Combined Lenovos consumer and enterprise product lines each contributes 50% of Lenovos PC sales in Asia Pacific with the Chinese Company set to shortly market a 25th anniversary range of Think enterprise products to lift awareness of their enterprise offering.

What Lenovo are looking to achieve with their direct sell retail format, according to sources, is uptake for a new gaming brand called Legion. All their new gaming products including a new range that will be released at IFA in Germany in September will be branded Legion.

Ivan Cheung Asia Pacific President at Lenovo said recently that excluding Japan and China that gaming products made up 75% of the Asia Pacifics overall consumer PC sales, ChannelNews understands that this is not the case in Australia due in part to Laus decision to consolidate his gaming sales primarily via Harvey Norman.

Currently the Asia Pacific region is achieving between 6 to 6.5% growth year on year.

Lau who has not returned our calls, nor is he saying how much growth Lenovo has achieved in the Australian market or whether his gaming products strategy has been successful.

ChannelNews can confirm that retail shops will be opened in Hong Kong this year.

Lenovo will also sponsor e-sport teams as well as games in this market to grow the new brand.

(c) 2017 AIN. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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Financials ($)
Sales 2017 43 048 M
EBIT 2017 742 M
Net income 2017 542 M
Debt 2017 1 019 M
Yield 2017 4,54%
P/E ratio 2017 12,70
P/E ratio 2018 12,88
EV / Sales 2017 0,19x
EV / Sales 2018 0,18x
Capitalization 7 110 M
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Mean consensus HOLD
Number of Analysts 26
Average target price 0,61 $
Spread / Average Target -4,9%
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NameTitle
Yuan Qing Yang Chairman & Chief Executive Officer
Gianfranco Lanci President & Chief Operating Officer
Wai Ming Wong Chief Financial Officer & Executive Vice President
Arthur Hu Chief Information Officer
Yong Rui Chief Technology Officer & Senior Vice President
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