Just In
- 11 hrs ago Elon Musk’s X Is Launching a TV App Similar to YouTube for Watching Videos
- 13 hrs ago Qualcomm Reveals Snapdragon X Plus Chip for Laptops: 10 Core CPU, On-Device AI, & Much More
- 13 hrs ago Flipkart Teases “Jaw-Dropping” Discount on iPhone 15: All-Time Low Price Anticipated
- 13 hrs ago President Joe Biden Signs Bill to Ban TikTok in the US: Unless This One Condition is Met
Don't Miss
- Movies Pavi Caretaker Box Office Collection Day 1 Prediction: Dileep's Movie Expected To Open Strongly
- Sports Who Won Yesterday's IPL Match 41? SRH vs RCB, IPL 2024 on April 25: Royal Challengers Bangalore End Losing Streak
- Finance Bajaj Group Stock Declares Rs. 60/Share Dividend: Buy Ahead of Record Date On 28 June?
- News MEA Dismisses US Human Rights Report On Manipur As 'Biased And Misinformed'
- Automobiles Royal Enfield Unveils Revolutionary Rentals & Tours Service: Check Out All Details Here
- Education AICTE introduces career portal for 3 million students, offering fully-sponsored trip to Silicon Valley
- Lifestyle Heeramandi Screening: Alia Bhatt, Ananya Panday, Rashmika Mandanna And Others Serve Finest Ethnic Style!
- Travel Escape to Kalimpong, Gangtok, and Darjeeling with IRCTC's Tour Package; Check Itinerary
Karbonn to invest Rs 800-cr for mobile phone prodn in India
Home grown mobile phone company Karbonn has earmarked an investment of Rs 800 crore over a period of next three years for manufacturing mobile phones in India.
"We will be investing up to Rs 800 crore on mobile devices manufacturing in the next three years. Production at our Noida plant in UP and Telangana plant will start within the next two quarters," Karbonn Mobiles Executive Director Shashin Devsare told PTI.
SEE ALSO: Karbonn Launches Multi Power Bank Starting from Rs 999
"In a year, we expect local production to meet 60-70 per cent of our domestic market requirement," he added. According to Cybermedia Research report of 2014, Karbonn Mobiles was one of the main contenders for the third position in terms of market share in mobile devices business in India.
"We are not dependent on external funding. We are the only brand that has announced two manufacturing unit. Out of the total, Rs 450 crore has been allocated for our Telengana plant and Rs 100 crore we have invested in setting up Noida assembly unit," Devsare said.
Karbonn is a joint venture between Jaina Group and Bangalore based electronics manufacturing firm United Telecom Limited. The company will be looking at making entry level phones priced in the range of Rs 2,000- 7,000 a unit.
SEE ALSO: Karbonn Aura Smartphone Launched in India for Rs. 4,990: What Specs to Expect?
Mobile phone companies are looking to make handsets in India after the government in its budget increased duty for imported devices. Devsare said that companies wants to indigenise mobile phone production completely but due to weak component base Karbonn will have to import components.
"We are going to look at full fledged manufacturing in India but we have to look at sourcing components form abroad because most of the components are not available locally. Lesser we will be dependent on imported components, better it is going to be for us," he said.
Talking about threat to sales from new companies selling smartphones at very low price and gaining market share quickly, Devsare said that Karbonn is not in to this kind of quarterly game but looking at markets which uses mid and low end smartphones and those who prefer to operate mobile phone in their local language.
"It is a game of those who are trying to get valuations and not confident about their internal accruals to fund their growth plan. Karbonn has always grown on internal accruals. If you have to make in India then you have to spend money earned from India. Not necessarily from foreign investors," Devsare said.
Source: PTI
-
99,999
-
1,29,999
-
69,999
-
41,999
-
64,999
-
99,999
-
29,999
-
63,999
-
39,999
-
1,56,900
-
79,900
-
1,39,900
-
1,29,900
-
65,900
-
1,56,900
-
1,30,990
-
76,990
-
16,499
-
30,700
-
12,999
-
11,999
-
16,026
-
14,248
-
14,466
-
26,634
-
18,800
-
62,425
-
1,15,909
-
93,635
-
75,804