EXCLUSIVE: COVID Kind To Motorola Mobility, 100% Growth
Motorola Mobility who are aiming to try and take the #3 slot in the Australian smartphone markets has delivered over 100% growth during the past 12 months.
Revenues have gone from $12.5 million at March 2020 to $25.5M at March 2021 according to recent financials filed with the Australian Securities & Investment Commission.
Profits have also risen from $287,400 to $347,531 for the Lenovo owned Company that has recently launch a new Motorola Edge 20 range of smartphones into the affordable premium mobile market.
In comparison arch rival Nokia saw their market share and revenues fall to the point that one major retailer said recently “They are not a serious player anymore”.
HMD Mobile Australia a subsidiary of the UK HMD Global business had revenues of $2.5M at December 2019; this fell to $2.3M at year-end 2020.
Profits also fell from $37,842 in 2019, to $17,545 in 2020, with the business struggling to generate the capital to invest in marketing.
The decline came as Motorola lifted their marketing spend to $2.2M.
Executives of the business that recently appointed Kurt Bonnici, an internal appointee to replace long time General Manager Danny Adamopoulos “The COVID-19 pandemic has certainly impacted the business where most of the countries were in lockdown at the start of the year and this has impacted Motorola Mobility Australia Pty Ltd mainly in the first and second quarters of the FY20-21”
“Later on, when lockdown restrictions removed, across geography there was a boom in demand and that has benefited the Company in the last two quarters of the FY20-21. We improved our shipments vs last year and hence, we can say pandemic has positive impact on Motorola Mobility Australia Pty Ltd on the overall year”.
The directors believe the current set of products and services that the Company offers is meeting the market’s requirements and will continue to offer new functionality throughout the next year to address new market trends.