Latest News | Motorola Plans to Double Investments in Premium Segment: Official
Get latest articles and stories on Latest News at LatestLY. Smartphone maker Motorola plans to double investments in the premium category of mobile phones as part of its strategy to be among the top three brands in India and globally in the next three years, a senior company official said.
New Delhi, Jul 4 (PTI) Smartphone maker Motorola plans to double investments in the premium category of mobile phones as part of its strategy to be among the top three brands in India and globally in the next three years, a senior company official said.
Motorola Executive Director for Asia-Pacific Prashanth Mani told PTI that the company is also looking to double its business in India this year.
Also Read | Monsoon 2023 in India: IMD Forecasts Heavy Rainfall for South Gujarat, Saurashtra From July 6.
"We all know how 5G penetration is growing in India. Last year, we were growing rapidly on the Edge but now we are going to double our investments in the premium category," Mani said.
The company on Monday unveiled Motorola Razr 40 Ultra for Rs 89,999 -- the most expensive phone from the company's stable in India and Motorola Razr 40 for Rs 59,999 apiece.
Motorola has roped in Bollywood actress Kriti Sanon as its brand ambassador.
Before the Motorola Razr 40 series, the company had launched Motorola Edge 30 Ultra for Rs 60,000 apiece in November.
Mani said the company saw strong growth momentum in India and recorded 100 per cent year-over-year growth in the first quarter of the calendar year.
"Over the next three years, we want to be among the top three brands in India. This year we will double our business," Mani said.
Motorola Global President Sergio Buniac said that if one can succeed in India then it can be replicated anywhere in the world.
"Our ambition is to be among the top three globally in the next three years. We cannot do that without succeeding in India. We have a long-term commitment to the Indian market. We are very heavy online. We are now expanding offline," Buniac said.
He said that the company has seen a good response for Edge 40 smartphones and it went out of stock three times.
When asked about the response of Indian customers for premium segment phones, Buniac said Motorola is very satisfied with the result.
"In our case, we have doubled volume. Our target for the second half of the year is to double that volume again. We are seeing consumers reacting to new form factors like foldable, and new colours. We are seeing good results. It's a beginning but we are very excited," he said.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)