In the recent times, the demand for storage solutions has surprisingly increased as data is being generated at a large scale. The market players who offer storage solutions have been catering the exponential demand with support from their partners. The innovation in storage technology is key factor behind increased demand in various segments. Rajeev Ranjan, Editor, Digital Terminal recently spoke to Mr. Gaurav Mathur, Managing Director, Lexar. During the interaction, Gaurav shared insights about Lexar business, expansion, offerings and growth plans in India. Read below the excerpts:
Rajeev: What have been your key achievements so far in the Indian market since your entry into this market?
Gaurav: Lexar has been operational in the Indian market for more than two decades. We made a few strategic changes this year for business expansion and market coverage, particularly in tier 2/3 cities. In terms of distribution, we have Pan India National distributors such as Creative Newtech and Compuage Infocom. We have product line segmentation for each distributor in order to achieve better market capture and penetration. As a result, our distributors will be able to reach even the most remote parts of India and offer the entire Lexar product portfolio.
The competitive price points and perfect product mix of the MEMORY AND FLASH product portfolio for all dealers in order to maximize profitability are attracting an increasing number of dealers to the brand LEXAR. Furthermore, our Pan India service centre covers the entire country and provides RMA service at 90+ locations across the country (Service Partner - Insprysis). Lexar is currently one of the top three brands in the camera card segment and one of the fastest growing brands in the SSD & DRAM vertical for the India market.
Rajeev: Lexar recently on-boarded Creative Newtech as its official Indian distribution partner, so what are your expectations from this partnership?
Gaurav: To accomplish our goal of expanding the market in India we have formally announced Creative Newtech as our Indian distributor. Creative Newtech is one of the leading distributors in the field of IT and imaging. With a strong involvement in the distribution of IT industry, has the potential to expand the business of Lexar products to a wider mass and smaller towns.
Rajeev: Which are the key cities you are planning to focus in the coming months?
Gaurav: Technology in India has now expanded its wings in every field. India is currently a priority market for Lexar, and we have already begun investing and restructuring the business model in India to improve outreach. We are planning to expand in all tier 1,2,3 cities by 2023. We are expanding our distribution and service centers, and we have plans to open offices in Indian cities such as Delhi, Mumbai, Bangalore, and even smaller cities such as Ranchi, Agra etc. to provide our products to end user.
Rajeev: How do you see adoption of SSD in Indian market? Which key sectors are generating the highest demand for you?
Gaurav: The new age's involvements with larger files, as well as increasing gaming and utility size, has increased the data requirement for more capable and faster storage solutions. SSDs are among the most efficient and fast storage solutions available. Since the introduction of SSDs, we have seen an exponential increase in demand in this sector, and to meet the demand for SSDs, semiconductor manufacturing has increased, and assembling and producing units has been the topmost priority of the firms.
Rajeev: What is your GTM strategy to capitalize on the emerging opportunities? Are you planning to roll out any special channel program to push your product sale?
Gaurav: India is one of the fastest growing markets globally for MEMORY AND FLASH products. Growing demand, increased purchasing power, and technologically savvy customers make India a hub and focused market for all brands. As previously stated, LEXAR has been operating in India for nearly two decades, providing high-quality products and services to Indian customers.
Our premium quality is our strength, but as part of our 360 DEGREE INCENTIVE strategy, we have begun offering LEXAR PRODUCTS at competitive price points to the channel and end users so that everyone can try the latest quality technology and benefit. We offer channel partners channel programmes and dealer schemes under various LEXAR product lines in order to provide better margins and support month after month. This type of participation has assisted us in expanding our dealer base throughout India. We are in the process of launching the LEXAR PREMIUM PARTNER PROGRAMME AND LEXAR LOYALTY PROGRAMME, both of which will be available soon.
