China’s Transsion picks up 80% stake in Spice Mobile
With this deal, Transsion will be handling manufacturing, sourcing and marketing Spice brand phones in India
Kolkata: Chinese communications firm Transsion Holding has picked up 80% stake in Spice Mobile as it aims to garner a larger market share in the fiercely competitive Indian mobile handset market.
“The brand Spice mobile was transfered to a special purpose vehicle (SPV). In the joint venture company, Transsion holds 80% stake while the Modis of the Spice Group holds the rest 20%,” a senior official told PTI who did not want to be quoted.
However, Transsion has no plan to buy out the remaining stake of the SPV.
With this deal, Transsion is handling manufacturing, sourcing and marketing Spice brand phones in India.
Transsion has adopted a multi-brand strategy in India positioning each brand for each segment of the huge Indian handset market. “We want to reposition Spice in the mid category segment of both feature and smartphones to compete with established brands catering to these segments (Rs800-Rs 9,000) including Samsung, Nokia and Micromax,” the official said.
Spice was among the top three highest selling handset brand even a few years back and had strong brand recall. “We are offering one year replacement warranty against standard 100 days of other brands,” he said.
Transsion began its Indian journey with Itel, a mass market feature phone. It also has Techno —its offline smartphone brand and online brand Infinix.
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