Smartphone maker Motorola on Wednesday said that the company is aiming to be amongst the top three players by 2025 with a market share of 8-10 per cent, from a less than 5 per cent market share currently.
“It’s simple math...we double three years in a row. We have done already for two years starting 2021 and achieved a 50 per cent growth. We are going to take share from somebody else equally, so we will be number three...by the time we reach there, it could be 8-10 per cent (market share) from close to 5 per cent currently,” Prashant Mani, Executive Director, Mobile Business Group Asia Pacific, Motorola Mobility India, told businessline.
The company has been doubling its sales in both domestic and exports for the last two years and this year, too, it is going to double the sales and exports, he said.
Ramping up
Motorola, over the last two years, has been ramping up manufacturing, localisation, service and new vendors. So, there is a push and pull in hastening the process, he added.
The company that plays in a price bracket of ₹7,000-90,000 handsets, has also seen the maximum growth in the price bracket of ₹10,000-35,000, and maximum revenue in the ₹60,000-plus category.
“Our strength right now would be in ₹10,000-35,000 price bracket...We have doubled our business last year both in volumes as well as revenues. The year before, in October-December 2022, the Edge, plus Razr portfolio was at 22 per cent contribution to our business, but as of October-December 2023, we are sitting on 46 per cent in value,” TM Narasimhan, Managing Director – India Mobile Business Group, Motorla, said.
The Edge series has grown by 4X and it’s in a sizeable scale volume, he added.
Meanwhile, the company launched the Edge 50 pro in India with disruptive AI features powered by moto AI, 125W wired and 50W wireless charging and IP68 underwater protection, starting at ₹27,999 (including ₹2,000 introductory + bank/exchange offer) for 8GB+256GB variant (with 68W charger in box).
The company has priced the 12GB+256GB variant (with 125W charger in box) at ₹31,999 (including ₹2,000 introductory + bank/exchange offer).