Q2 ’23: Lenovo-Motorola: Eyes Premium Including Foldables
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Lenovo-Motorola’s global smartphone shipments declined -14% YoY in Q2 2023. We believe this is due to the weakened demand and inventory adjustments. Wholesale revenue declined -24% YoY as wholesale ASP too declined -12% YoY. While the global smartphone market declined in -8% YoY, Lenovo-Motorola underperformed and declined in double digits. Americas continue to hold the major share for the vendor but Asia Pacific, Africa Middle East and Western Europe holds a lot of potential. This quarter also embarks a half century for Motorola in a way as April 3 1973 was day when the first mobile call was made from Motorola prototype device.
