Jivi Mobiles has ventured into the smartphone segment with initial offerings in the price range of Rs 5,000 and Rs 7,000.
The homegrown mobile maker plans to invest Rs 100 crore to build its manufacturing facility for smartphones. Jivi said that until now, the company has been making feature phones only, a segment in which it has built a strong reputation.
The company’s group director and global head of operations Murthy Bjas said, “In the feature phone segment, we are targeting 5-8 market share in a year’s time and for smartphone, we will first try to gain 2 per cent market share in the Rs 5000- Rs 7000 segment that we’re operating in.”
He added: “Two years down the line, we would target 5 per cent share in smartphone market. Under Rs 10,000 smartphone market segment is going to open up further and we would love to raise our profile in this space.”
Murthy added that the company will invest Rs 100 crore over the next six months to set up its own smartphone manufacturing unit in Maharashtra and create a distribution and marketing network.
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