Largest African mobile phone selling company Hong Kong based Transsion to invest over Rs 710 crore in IndiaSeptember 18, 2019
Ahmedabad: Africa’s largest Mobile phone selling company Hong Kong-based Transsion Holdings, which also manufacture and market smartphone and feature phones in India today said that it would invest an additional US$100 million (over Rs 710 crores) in the country in next 2 to 3 years.
CEO of Transsion India, which manufactures and sales Tecno brand of smartphones and I-tel brnad of feature phones in India, Arijeet Talapatra today informed.
Talking to newsmen on the occasion of the launch of its latest smart phone in India Tecno spark 4 here today, he said that the company which entered Indian market in 2017 has so far invested US$30 million in the country. It has its sole Indian manufacturing unit in Noida with a capacity of 15 lakh feature phones and 6.5 lakh smart phones.
He informed that a large chunk of the $100 million investment in India would be on research and development (R & D) and starting new Surface-mount technology(SMT) lines. He also said that his company though did not sell phones in China but was among five largest phone manufacturers there. All the India sets being sold are however manufactured in India only.
Talapatra said that the company ensures that the Indian customers mostly the younger ones get latest features at affordable prizes.
He said that his company’s main focus in India was offline sales and it has so far overall 5% market share in the country.
He said that the mobile phone market in Asia was growing at a CAGR of 14 % and was even higher in India. The company had launched its first phone in the country in Gujarat in 2017.
During the festive season it is planning to increase its market share especially in the below Rs 10 thousand smartphone segment.
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