Chinese phone maker Phicomm to invest $100mn in India in 3 yrs
China-based mobile handset maker <g data-gr-id="20">Phicomm</g>, which entered <g data-gr-id="22">Indian</g> market with the launch of 4G smartphone on Wednesday, will invest $100 million over the next three years on R&D and marketing.
“For the next three years, we plan to invest $100 million, including the local team, R&D centre and marketing,” <g data-gr-id="21">Phicomm</g> CEO Min Zheng said here. The company is also exploring manufacturing in India though the final call is yet to be taken.
Zheng said the company is targeting the youth to expand presence to grab 5 per cent share of <g data-gr-id="23">mobile</g> handset market in five years in the country. “We have got IT, manufacturing and design, everything in-house, which gives us maximum flexibility to customise according to customers demands,” Zheng said. He said the firm can adjust as per market requirements and also control the cost as everything is in-house. The company is planning to launch three-four devices this year in the price range of $200-300.
The smartphone launched today comes with a price tag of Rs 10,999 and will be available on Amazon from June 9. “Indian smartphone market is constantly evolving and consumers are looking for unique smartphones with advanced features and high standards to gain the maximum experience.
Our strong in-house research and development team has helped in customising the smartphone especially for Indian consumers,” Zheng added.