Intex
Technologies is a major handset, IT accessories and consumer durables manufacturer
in India. In the next monetary year, Intex has planned to invest 1000 crores to
empower its Indian business. Apart from that, they have also decided to invest
500 crores on a new manufacturing unit in India. Keshav Bansal, director of
marketing at Intex reported that they are planning to spend 350 crores on
improving customer services and increase retail connections, 250 crores will be
directed towards marketing and 100 crores dedicated to research and development
purely.
A
lump sum of 500 crores will be spent in a period of 3 to 4 years for smartphone
manufacturing. Intex is communicating its interests of a new plant with state
governments of Rajasthan, Uttar Pradesh and Uttarakhand and soon a location
would be finalized. Formerly, it already own two plants in Jammu and Baddi, Himachal
Pradesh. Currently, the production rate at Baddi is nearly 2 lakh feature
phones a month. They aim at eradicating the need of China to manufacture
feature phones in future.
Current
market share of smartphones is 3 to 4 % and their endeavor is to make it 10 %
by next year. They also expect 80 % of revenue in 2015 – 16 from handsets alone
against the present 65 %.
With a turnover of 4,000 crores by this year, Intex
is looking forward to make it 6,000 next year, according to Bansal. The company
also aims at increasing its online presence and ecommerce players have been
talked to, about launching an exclusive online only smartphone as reported to
Economic Times.
Whether
Intex will be able to survive the competition from Chinese phones and take a
stand in the Indian market, only time can tell.
| Other People Are Reading | |
| Apple Beats World Record In Quaterly | Huawei To Launch Its New Flagship Ascend P8 In April |
Feel free to drop your comments below.