The Moto G is Motorola's mid-priced phone and the new model boasts several different colors as well as 16GB memory.
Earlier this year, China's Lenovo – which paid $2.9 billion in 2014 for Motorola – said it was looking to make the struggling company profitable within four to six quarters.
In an interview last week, Lenovo's chief operating officer, Gianfranco Lanci, told CNBC that progress with Motorola was on track.
"Integration is going quite well. We will probably have some additional steps in the next few months in terms of better integrated…operation and supply chain…It's progressing by our expectations," Lanci told CNBC.
With Motorola, Lenovo's tactics have been to try and cover a mixture of price ranges. The current Moto G retails at $179.99 and the new version, due to be released next week, is likely to play in a similar price category. The higher end Moto X starts at $299.99.
Lenovo is currently the world's fifth-largest smartphone player with a 4.8 percent market share, according to IDC.
Lanci said the company's strategy revolves around offering several phones at different price points in order to compete in different markets and with different consumers. The executive said Lenovo and Motorola were "well-positioned" for growth, especially in the emerging markets.
"If you look at our offer today, we go from $79 up to $799 and I think we cover very well between Lenovo phone and Moto phone, all the different segments…combining the two product portfolio, we have a very good product offer," Lanci told CNBC.