The company already has a computer manufacturing plant in Puducherry.
"We are exploring the opportunity of setting up a manufacturing unit in the country," Bhaskar Choudhuri, Director (Marketing) of Lenovo India said.
This is particularly because of the government's impetus on 'Make in India' as well as the huge opportunity which country presents, he said.
Lenovo, which enjoys leadership positions in sales of laptops, PCs and tablets in India, is also planning to aggressively boost smartphone business in the country.
He said that the smartphone penetration in the country was only 30 percent. "This shows that there is enough headroom for growth," he said.
Lenovo was particularly looking at the 4G LTE enabled smartphones as the company had already launched few such products. "The response to the smartphones was stupendous", he said.
"We believe that 4G LTE will be the dominant technology in the years to come," Choudhuri added.
The company would also expand retail presence with the opening of more exclusive Lenovo stores, he said.
In the meanwhile, Lenovo launched the K3 Note at a launch event in New Delhi on Thursday. The K3 Note has been priced at Rs. 9,999. It will be available to buy via exclusive retail partner Flipkart in its first flash sale on July 8, and will go up for registrations from 2pm IST Thursday. The Lenovo K3 Note supports both LTE bands in India (FDD-LTE 1800MHz Band 3, and TDD-LTE 2300MHz Band 40).
Written with inputs from PTI