Economic Times: October 04, 2016
New Delhi: Chinese handset maker Lenovo said that India has become it's second largest market by volume globally, having achieved 100% revenue growth since last year.
Aymar De Lencquessaing chairman and president at Motorola Mobility said, "We aim to become third largest smartphone brand globally. India is the #2 market for Lenovo mobile business group worldwide by volume."
"We have achieved 100% revenue growth in India revenue since last year. I don't see any reason for the growth slowdown anytime soon," he added.
Lenovo on Tuesday launched the Moto Z and Moto Z Play modular smartphones in India today, along with moto mods India starting from Rs 6,999.
Moto Z and Moto Z play are priced at Rs 39,999 and Rs 24,999 respectively. With these new devices Lenovo is targeting the premium segment in the country.
"There is a huge potential in the premium smartphone market.Consumer centricity has ensures success in mid segment and we are going to use the same mantra as we move towards the premium segment," Sudhin Mathur , executive director, mobile business group at Lenovo India said.
Mathur said that 26% of the country's revenue will come from premium segment by 2017 and the category will grow at CAGR of 22% in next five years, as compared to market growth of 16%.
"Friendly schemes by telcos, 4G and new market penetration will further drive the smartphone uptake in the country," Mathur said.
Moto Z is powered by a quad-core Qualcomm Snapdragon 820 chipset coupled with an Adreno 530 GPU and 4GB RAM. It comes with in two variants -- 32GB and 64GB internal storage (expandable to 256GB).
The display on the phone is a 5.5-inch AMOLED with 2560×1440 pixels.
Moto Z comes with a 13MP primary camera with laser autofocus and dual-LED flash, along with a 5MP front shooter with LED flash. The phone is backed by 2600 mAh that supports fast charging.
Moto Z Play on the other hand is powered by an octa-core Qualcomm Snapdragon 625 chipset, coupled with an Adreno 506 GPU, and 3GB RAM.
The device comes with 32GB storage and features a 5.5-inch FHD Super AMOLED display and has a 16MP primary shooter with dual-LED flash, along with a 5MP front shooter. The phone comes with a 3510 mAh non-removable battery.
The company said that its Mods developer platform is also available in India. The platform will allow engineers/partners to develop their on Moto Mods.
Motorola Capital is offering $1 million in seed funding for developers with unique concepts on Moto Mods.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.