Lenovo bets its Motorola smartphone brand will be the third-biggest globally in 3 years

DAVOS, Switzerland — Motorola will likely be the third-biggest smartphone player in the world in three years, according to a top executive at Chinese tech firm Lenovo, the owner of the brand.

Lenovo, the world's largest personal computer maker, bought Motorola from Google in 2014. In recent years, the company has sought to boost the brand and position it as a higher-end smartphone player to compete with the likes of Samsung and Apple.

In 2020, Lenovo rebooted the iconic Motorola Razr as a foldable smartphone.

Matthew Zielinski, executive vice president at Lenovo, told CNBC at the World Economic Forum in Davos, Switzerland, that the company has turned around the Motorola business and "hyper-prioritized" it and that is now paying off.

"I would bet a paycheck that in three years we will be number three around the world," Zielinski said, laying out Lenovo's ambition with Motorola.

Apple and Samsung are the two biggest players in the global smartphone market commanding around a combined 40% share.

Motorola and Lenovo combined had around a 4% market share in the third quarter 2023, making it the eighth-largest player globally, according to Counterpoint Research. However it has found success in certain markets. In the U.S., Motorola is the third biggest smartphone vendor by market share. In Latin America, Motorola is the second-largest player.

Zielinski said the company will be targeted in how it grows its market share geographically. The executive said Motorola is looking to grow "stably" in the markets it is in until it reaches 10% market share in those places which will uplift its market share globally.

Part of the growth strategy revolves around the premium segment of the market, in which Apple and Samsung dominate.

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