Chinese computer maker Lenovo has plans to launch sub-Rs 5000 smarphone in the Indian market to boost sales.

As the Chinese manufacturer has been suffering a steep decline in revenues from personal computers (PC), it is now trying to make up with bigger smartphone sales.

Nick Reynolds, Worldwide Product Marketing Executive Director at Lenovo, said, "We are watching the space because we know there are people who are upgrading from feature phones to smartphones, and that is a big trend in emerging markets today."

India is one of the most lucrative emerging markets in the world, and manufactures like Lenovo wants to capitalize on it. Lenovo aims to sell at least one million smartphones in India within the current financial ear.

Lenovo is also planning expand its distribution network by hitting partnerships with distributors like Advanced Computer and Ingram.

Smartphone market, which so far was dominated by tech giants like Apple and Samsung, is now increasingly being encroached by affordable Indian brands like Micromax, Karbonn and Lava.