The smartphone market in India grew at 84 percent year-on-year to 18.42 million units in Q2 of 2014 from 10.02 million units (in April-June 2013 quarter), as per research firm IDC.

Korean handset maker Samsung led the smartphone market in India with 29 percent share, followed by Micromax at 18 percent, Karbonn at 8 percent and Lava at 6 percent.

Talking about the company's business in India, Babu said Lenovo's smartphone portfolio is based on consumer needs and their usage habits, across all price points.

"Our range starts from Rs 4,000 and goes up to Rs 35,999. We offer different choices to consumers with our Vibe (premium), P (business) and A (Internet and social media) series smartphones," he said.

Babu added that the sub-$200 (about Rs 12,000) is one of its fastest growing segments.

On the slew of devices hitting the Indian market, Babu said the right mix of superior user experience and product quality at an enticing price point will be the market differentiator going forward.

"As smartphones become more mainstream, consumers expect intuitive and fast products from all premium brands. The need here is to go beyond the expected and provide extraordinary design that reflects their personality and features that addresses their particular use case scenario," he said.

Last week, Mozilla's Firefox unveiled two new smartphones in India in partnership with Intex and Spice, priced below Rs 2300, to compete with devices powered by Android operating system.

He added that there is still huge opportunity in the market as over 70 percent of the Indian population still uses a feature phone and many are looking to upgrade to a smartphone.

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