Lenovo Group Ltd. will introduce a new tablet to be sold at Wal-Mart Stores Inc., as it seeks to double its market share in North America.
The tablet expands the company’s existing product line, Aymar de Lencquesaing, president of Lenovo North America, said Thursday in an interview. He declined to specify pricing, but said it would be less than an iPad from Apple Inc. Full-size iPads cost from $399 to $829 depending on capacity and features, according to Apple’s website.
“I look at market penetration in the U.S. and we have a lot of room to grow into consumer,” he said.
Worldwide shipments of tablets and 2-in-1 devices declined 5.9 in the first quarter to 47.1 million, the second consecutive year-to-year quarterly decline, International Data Corp. said Thursday in a report. Lenovo’s unit sales increased 23 percent in the quarter, one of the few makers to experience growth in the period, and had 5.3 percent of the market, IDC said. Apple holds the top spot with 27 percent followed by Samsung Electronics Co. with 19 percent, IDC said.
Lenovo, the world’s largest maker of personal computers, already sells its products through Walmart.com, and the tablet is a way to enter stores and reach customers more directly, Lencquesaing said. It also presents an opportunity as consumers increasingly view tablets as addition to computers rather than a replacement, he said.
Seeking to build its name recognition for the product, the Chinese company is also increasing social media engagement and marketing efforts, Lencquesaing said.