Motorola was acquired by Lenovo back in 2014 from Google, and since then, it has carved somewhat of a market for itself in this cutthroat space, but nothing too drastic. However, the company intends to change that and is betting on the future, believing that its smartphone brand can become the world’s third-biggest. In fact, one Lenovo executive is putting his paycheck on the line while boasting such claims.
Lenovo has set huge ambitions for the Motorola brand and believes it will reach the new milestone in just three years
The premium segment is currently dominated by Apple and Samsung, and that is Lenovo’s next target. Matthew Zielinski, the President of International Markets at Lenovo, stated that the upcoming foldable Motorola Razr is the firm’s attempt to take a ‘stab at the premium market.’ Talking to CNBC, Zielinski mentioned that ‘I would bet a paycheck that in three years we will be number three around the world,’ highlighting that he is laser-focused on making Motorola one of the largest smartphone brands in the world.
However, it will be a Herculean task because Apple and Samsung have a combined global smartphone market share of 40 percent, whereas both Motorola and Lenovo only accounted for 4 percent of that market in Q4 2023. Needless to say, it will be an uphill battle for the Chinese manufacturer, though it intends to grow ‘stably’ until it can take that market share to 10 percent in regions that will uplift its popularity.
Apple’s biggest selling point for iPhones is that the California-based giant has developed a robust ecosystem thanks to the tightly knit pairing of its hardware and software. Since Motorola will likely continue to rely on Google’s Android platform, creating an ecosystem will be difficult. Instead, Lenovo can introduce price-competitive models in multiple countries, where potential buyers will forego other purchases for one of these.
Zielinski did not outline a broader strategy when speaking to CNBC, so his and Lenovo’s efforts will be seen in the near future when multiple Motorola phones launch, targeting multiple price brackets.
News Source: CNBC
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