HCL's Rs 13,990 laptop | Apple's thinnest laptop [Pics]

CHEAPEST ONE: HCL Infosystems Chairman and CEO Ajai Chowdhry unveils MiLeap X series in Delhi on Tuesday, January 15.

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New Delhi: Personal computer and server maker HCL Infosystems Ltd expects to gain a greater share of India's laptop market with the launch of a new low-cost model, its chief executive said on Tuesday.

The model named "MiLeap X" is priced at Rs 13,990, ($358) about 40 per cent cheaper than its lowest cost model currently sold in the market.

"Indian market was waiting for something like this... It will open up a wide range of new usage scenarios and application areas," Ajai Chowdhry told reporters during a press conference, but did not give any sales projections for the model.

The firm launched another model "MiLeap Y" priced at Rs 29,990 rupees.

Analysts say there is a market for cheap laptops in India and HCL may gain if it enters into sales pact with educational institutes and government departments.

HCL currently commands about 7 per cent of India's laptop market, Chowdhry said.

The Indian market, dominated by Hewlett-Packard Co, Lenovo, Acer Inc, sold 980,000 units in third quarter, almost double from an year ago, according to research firm IDC.