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Homtom enters Indian market; plans to invest Rs 6 billion

August 27, 2018

Chinese brand, Homtom has entered the Indian market with the launch of smartphones in the mid-range segment. The company is targeting a market share of 3 per cent per year in this segment. The company is expected to foray into the higher range segment by next year.

Further, the company is planning to invest a sum of Rs 6 billion in the next three-four months to cater to Northern India. Homtom is also planning to set up its own facility for (complete knock-down) CKD manufacturing in Noida at a total outlay of about Rs 2-3 billion. Once the facility is up and running, the company plans to export devices to Sri Lanka, Nepal, Bangladesh and Bhutan.

Currently, the device-maker is assembling its smartphones in Bawal, Haryana in partnership with contract manufacturer V-Sun. Moreover, the company is also planning to tie-up with telecom operators

 

 

 
 

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