Comio to set up facility in Coimbatore at Rs 250-crore

Comio is setting up its own manufacturing unit in Coimbatore by the end of this year to meet the demand for smartphones.

Speaking to reporters, general manager (sales) of Comio Sujith Rayirath, said, the company is focusing on the mid-segment with a price range of Rs 6,000 to Rs 12,000, contributing 40 per cent of 10-12 million handsets per month in India.

With an expected growth of 20 to 25 per cent in another two years, the company, a 100 per cent subsidiary of Hong Kong-based Tapwise Communication Co Ltd, is negotiating with many State governments to start the manufacturing unit at an investment of Rs 250 crore.

According to Sujith, the land for the setting up the factory is being identified. He said the company has targeted to sell three million handsets this financial year.

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