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Corporates line up to tap Rs70,000 cr mobile retail market

Corporates line up to tap Rs70,000 cr mobile retail market
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First Published: Sun, Mar 18 2007. 03 02 PM IST
Updated: Sun, Mar 18 2007. 03 02 PM IST
PTI
New Delhi: Organised mobile retailing is set to become talk of the town with big corporate houses chalking out aggressive plans to tap over Rs70,000 crore market.
Two diversified business conglomerates viz. Essar and Spice Group had recently announced combined investment plans of about Rs1,850 crore to set up pan India mobile retail chains.
Even hypermarket chains like Subhiksha have started exclusive stores for mobile retail i.e. Subhiksha Mobile and Big Bazaar with M Bazaar.
The companies are getting a boost with the fact that the mobile users are expected to cross 220 million by this year end and 500 million by 2010 with additions of about six million subscribers every month.
The retail market for mobile phones, handsets, accessories and airtime is already over Rs 70,000 crore market growing at the rate of 15-20%.
Earlier this year, even the market leader Nokia reworked its 10-year alliance with its distribution partner HCL Infosystems, which has led to Nokia venturing into direct distribution and sales.
The multi-service outlets by the companies would offer end customers not just mobile handsets but also mobile accessories, new connections, value added services, after sales support and electronic products such as digital cameras, iPods and other gaming devices.
“With about 7-9 new mobile models being introduced every month, there is a huge opportunity for the mobile retail market of $16 billion (Rs70,672 crore),” Hot Spot Retails Pvt Ltd vice chairman Dilip Modi said.
Spice Group has announced an investment of Rs500 crore in the next two years in its telecom retail venture ‘Hot Spot Retail’.
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First Published: Sun, Mar 18 2007. 03 02 PM IST
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