Bengaluru: With a mere 18% penetration of personal computers in India and expectations of this figure doubling over the next 5 years, IT conglomerate HP Inc lists India amongst its top-3 growth markets, senior director for consumer sales in India, Vineet Gehani, told DH on Friday.
For select categories, including accessories, India ranks amongst the top-5 revenue contributors to the US-headquartered technology hardware major, he added.
With three-fourths of overall sales emerging from brick and mortar stores, HP India is looking to strengthen its omnichannel approach, besides presence in tier III towns and beyond, to increase its market share in the country, which currently stands at 31%. “It has again been a year for HP when we have grown market share. The market has been softer than the last 2-3 years that we saw…In all parts of the businesses that we currently have, we’re operating at about 50-60% higher than the pre-Covid scenario,” Gehani elaborated.
Gaming and creators/freelancers segments, which collectively account for nearly one-fourth of the company’s aggregate revenue in India, led growth during the financial year ended October 31, 2023. From an enterprise/commercial versus consumer perspective, revenue is split into a 60:40 ratio.
“Within the enterprise segment, because of the softness in the global scenario, the IT/ITeS segment has been a little subdued of late than the previous year. But the other Indian groups are actually growing much faster than the global accounts are,” he underscored.
Gehani also attested to a better performance from small and medium enterprises in driving growth for the company, which counts its financial year from November 1 to October 31.
HP India, which launched a new range of AI-enhanced personal computers in the consumer segment on Friday, plans to follow suit for the commercial end, later this year.
Published 06 April 2024, 00:23 IST