Lenovo unveils interest-free EMI scheme for PCs, laptops

CHENNAI: Aiming to increase its market share in the country, computers and mobile phones manufacturer Lenovo today announced an initiative under which its PCs and laptops would be offered with interest-free EMI option.

The 'Start up with Lenovo' initiative was being rolled out across Tamil Nadu, West Bengal, Rajasthan, Karnataka, Madhya Pradesh and Maharashtra, company Managing Director Rahul Agarwal told reporters here.

He said the company had earlier conducted "successful" pilot programme of the initiative in Andhra Pradesh, Telangana and Gujarat in the backdrop of the 10 per cent computer penetration in the country.

Under the initiative, Lenovo would offer a wide range of 'fully loaded' computers and laptops starting at Rs 24,990 with interest-free EMI, the company said.

Lenovo has tied up with Bajaj FinServ to offer nine EMIs, and it will involve a processing fee of Rs 749, the company said adding it has roped in Tata Docomo for providing free internet dongles as part of the initiative.

The initiative was keeping in with the Centre's Digital India effort, Agarwal said.

Asked about the 'commercial interest' behind the initiative, he said "there is always a commercial angle."

The 10 per cent computer penetration rate in the country was 'unfair' and there will also be benefits for competitors from Lenovo's initiative, he said adding "we need to have a large heart."

"The category will grow and if we give good products we will get a lion's share of that," Agarwal said when asked how this initiative will help the company's market share which was 18 per cent in Q1 of 2015.

"The pilot (projects) have proved we are on the right path," he said.