Intex forays into mobile market, expects Rs500 cr revenue

Intex forays into mobile market, expects Rs500 cr revenue
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First Published: Sun, Apr 15 2007. 01 02 PM IST
Updated: Sun, Apr 15 2007. 01 02 PM IST
PTI
New Delhi: IT hardware and electronics company Intex Technologies said on 15 April it has forayed into the fast-growing mobile handset market and is expecting revenues to almost double to Rs500 crore by March 2008.
The company has launched three mobile models and entered into a tie-up with Buena Vista Internet Group, a part of leading entertainment brand Walt Disney, to provide contents on mobile phones, Intex president Ramesh A Vaswani said.
Intex, which currently imports handsets from China, has no plans to start manufacturing mobile phones in India as of now, he said, adding “we expect to sell about two lakh handsets in the first year itself.”
The company posted a turnover of Rs261 crore in the last fiscal and is expecting to touch Rs500 crore by the end of March 2008 with mobile business contributing Rs100 crore, he added.
Mobile phones have been priced in the range of Rs2,000-8,000 and would offer consumers pre-loaded content of Disney such as wallpapers, ring tones, screen savers and videos of Disney characters --Mickey and Minney among others.
“This move is a part of the company’s strategy to offer consumers more products under the umbrella of convergence and the company aims to capture a place among the top five brands by 2010,” he said.
The company currently has about 770 employees. The workforce will be increased to about 850 in the next year.
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First Published: Sun, Apr 15 2007. 01 02 PM IST
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