Chinese smartphone vendor Gionee is planning to invest Rs 3 billion for setting up a manufacturing facility in India over the next three years. The company may opt for contract manufacturing to initiate the mobile production in the country. It has appointed EY to advise on setting up a manufacturing facility, which might produce phones for the neighbouring countries.
The company is targeting a turnover of Rs 60 billion in 2015-16 and will invest about Rs 2.25 billion in marketing for the year. With this, Gionee intends to sell 50 per cent more mobile phones, from 400,000 phones in 2014-15 to 600,000 phones in 2015-16. At present, Gionee has a market share of 4 per cent in the country. Its share in Rajasthan is about 20 per cent and in Gujarat is 9 per cent.
