84% Growth For Motorola, Stripping Share From Samsung & LG
Motorola is on a roll with the local subsidiary growing 84% during the past year, a major contributor has been the expansion of the brands presence at retailers such as JB Hi Fi.
According to US management the brand that is owned by Lenovo has been taking share from both LG and Samsung as well as Chinese brands particularly in Europe where there is deep rooted concerns about security brands such as Huawei and Oppo.
When asked which Samsung models they were taking share away from management said, “All models”.
As a subsidiary of Lenovo which last year delivered US$60 bullion in revenue Motorola globally delivered “record profits” according to management from 64% growth in sales.
The Company overall delivered 54% year on year growth.
In Australia Motorola is taking share away from the likes of Nokia as well as TCL owned brand Alcatel in the value market.
Number two in Latin America Motorola is targeting key markets such as India Australia and in Europe with analysts telling ChannelNews that the future for Motorola looks “Bright”.
This coupled with solid performance in Latin and North America underpinned rapid expansion in Australia Europe and Asia, where the strong double- and triple-digit growth was achieved due to expanded carrier and CE retailer relationships spanning retailers such as JB Hi Fi, The Good Guys, Big W and Optis.
On the downside Motorola management are forecasting price rises due to inflation and the rising cost of components.
More to follow.