Monday, June 24, 2024
Smartphone news

motorola phones: Motorola aims to double smartphone sales volume this year, targets 5% market share

China’s Lenovo-owned Motorola plans to double its volumes from smartphone sales in 2024 on the back of a growing push for premiumisation, targeting a market share of 5% from 3.5% currently, two top company executives said.”We have moved into the phase of accelerating our business globally with the target to become the third largest smartphone brand globally in the next 8-12 quarters. Naturally, to do that, we have to be number 3 in India as well,” Prashant Mani, executive director-Asia Pacific at Motorola, told ET.

The executive added that Motorola’s business in India has more than doubled in terms of device sell-outs, specifically its premium Edge series models where volumes grew four times.

“The Edge and Razr series from Motorola, which are part of our premium portfolio, now contribute 46% of India revenues, from 22% in 2022, with the overall business doubling” the executive added. Backed by the improved business outlook, the company hosted its first global launch event in New Delhi for its new premium handset Wednesday.

Newly-appointed managing director TM Narsimhan said India has now become one of the top contributors to volumes in the premium segment, underpinning the ongoing premiumisation in the country’s smartphone market where more and more users are availing financing schemes to upgrade to costlier handsets.

The company, however, remains an online-first brand, in contrast with rivals who now are focusing more towards offline retail in a bid to place their devices where consumers touch and feel them before purchasing.

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