Motorola, owned by Lenovo in China, plans to double its smartphone sales this year and aims to increase its market share to 5% from the current 3.5%, according to top company executives.
Prashant Mani, the executive director for Asia Pacific at Motorola, said they’re speeding up their global business to become the third largest smartphone brand worldwide within the next 8-12 quarters. He emphasized the importance of being number 3 in India as well.
Motorola’s business in India has seen significant growth, especially with its premium Edge series models. Sales of these models have quadrupled, and they now contribute to 46% of India’s revenues, up from 22% in 2022. The overall business has doubled in size.
The company recently held its first global launch event in New Delhi to introduce its new premium handset, reflecting its positive outlook on the market.
TM Narsimhan, the newly-appointed managing director, highlighted India’s growing role in the premium smartphone segment. More users in India are opting for financing schemes to upgrade to higher-priced handsets, driving the trend of premiumization.
Despite competitors focusing more on offline retail, Motorola remains an online-first brand. They believe in the importance of providing customers with the opportunity to interact with their devices before making a purchase.
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