Motorola will double its investments in the premium segment of mobile phones, wanting to be one of the top three brands: Officially

According to a senior corporate executive, Motorola wants to increase its spending in the premium category of mobile phones as part of its ambition to be among the top three brands in India and worldwide in the next three years.

Prashanth Mani, Motorola's Executive Director for Asia-Pacific, told PTI that the firm plans to increase its operations in India this year.

"We've all seen how 5G penetration is increasing in India. "We were rapidly expanding on the Edge last year, but we are now doubling our investments in the premium category," Mani explained.

Motorola Razr 40 Ultra for Rs. 89,999 – the company's most expensive phone in India – and Motorola Razr 40 for Rs. 59,999 each were revealed on Monday.

Kriti Sanon, a Bollywood actress, has been appointed as Motorola's brand ambassador.

Prior to the Motorola Razr 40 series, the business released the Motorola Edge 30 Ultra in November for Rs 60,000.

Mani stated that the firm saw great growth momentum in India and achieved 100% year-over-year growth in the first quarter of the calendar year.

"Over the next three years, we want to be one of India's top three brands." "We plan to double our business this year," Mani remarked.

Motorola Global President Sergio Buniac stated that what works in India can be reproduced everywhere in the globe.

"Our goal is to be among the top three in the world in the next three years." We can't accomplish it unless we succeed in India. We are committed to the Indian market for the long term. We are quite active on the internet. Buniac stated, "We are now expanding offline."

He stated that the Edge 40 cellphones had a positive reaction and were out of stock three times.

Buniac stated that Motorola is quite pleased with the reaction of Indian customers for premium category phones.

"In our situation, we increased the volume. Our goal for the second half of the year is to more than double that amount. Consumers are reacting to new form factors such as folding and new hues. We are seeing positive effects. "It's just the beginning, but we're very excited," he remarked.