It has a microSD slot for up to 32GB of memory. The Google-owned company's launch is an attempt to tap the rapidly expanding budget smartphone market, which is expected to grow 23.5 percent between 2014 and 2015, as consumer across the developed world seek cheaper devices. Read More China vendors flood global smartphone leaderboard "Latin America is very important to us, just as some of the other emerging markets are critical to our future as well," Marcus Frost, senior marketing director for EMEA at Motorola, told CNBC in a phone interview. Motorola's move came on the same day as a similar move by struggling rival Blackberry. The Canadian firm launched a budget touchscreen device called the Z3, in Jakarta, Indonesia, and is expected to be priced below $200. As well as an emerging market play, analysts told CNBC that Motorola's low-end gamble was likely to appeal in Europe.