Key Points
NEW DELHI : New Delhi: Motorola aims to garner 8-10% of India's smartphone market in two years, and will double its manufacturing capacity and share of exports from the country, top company executives said, underscoring the importance of the Indian market which they said would be critical for the companys global success..
Having doubled phone sales in the country in 2023, specifically in the 10,000-30,000 price bracket, Motorola is looking at taking market share away from competitors to become the third-largest player by volumes by the end of 2024..
According to Counterpoint data, Motorola had a 2.7% share of the overall smartphone market as of December 2023, but a 2.5% share of the 10,000-30,000 price category, which is referred to as the mid-range smartphone segment..
As of December 2023, Samsung, Vivo, Xiaomi, Realme and Oppo were the top five smartphone players in the Indian market with 18%, 17%, 16.5%, 12% and 10.5% market shares, respectively..
. TM Narasimha, managing director at Motorola Mobility India, added that finance options offered to consumers that enable them to buy smartphones in monthly installments, in many cases interest free, have helped boost sales of more premium-priced devices..
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