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TECHNOLOGY TOP STORIES

Chinese mobile brand HOMTOM enters India market, invests $85 mn to set up unit

The investment will be made in the next 3-4 months to cater to the northern parts of India. The company will also beinvesting $28mn for CKD manufacturing

Shenzhen-based mobile brand is making its foray into the Indian market with the launch of smartphones in the mid-range segment. The company is targeting a market share of at least 3% over a year in the same.

Aditya Bobal, director of Brand Strategy detailed his plans for further expansion, stating: “Once the company sets up its manufacturing unit in India and if things go well, we’ll be then exporting to Sri Lanka, Nepal, Bangladesh and Bhutan.” to Indian technology Economic Times Telecom.

HOMTOM does not have plans for onlint distribution for the time being, unlike other popular Chinese brands. Bobal added: “We have already closed more than 100 distributors for retail in north India. We are looking at having more than 1000 flagship stores by end of 2019 which we will also use as service centers for our products.”

The brand does have plans to introduce devices in a higher range of Rs 15000 to Rs 20000. “We have average selling price of Rs 10000 currently and next year we will try to increase our ASP by Rs 5000,” stated Dilpreet Singh Sikka, director of finance & operations.

HOMTOM has plans of tying up with telecom operators and is discussions with them regarding the same. For now, the company will only focus on the northern regions of India, and will be expanding its operations to other regions in phases.

HOMTOM will be coming up with 3 more smartphone models by the end of this year, 2 of which it will be introducing by Diwali. The upcoming models will come with notch display and other latest technologies. 

The device maker is operating globally and has been offering ODM and OEM services to smartphone companies since 2008.

-GBO Correspondent.

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