China-based Coolpad Group is planning to invest $300 million in India by 2018 for marketing the company?s smartphone brand, building a sales team, research & development (R&D) and manufacturing.
Coolpad is also in talks with Indian online platforms to launch its 4G smartphones, which will be in the sub-Rs 10,000 price band. The smartphones will support features such as finger print scanner, dual camera and two ROMs on the Android operating system (OS).
The company had initially entered India in June 2015 through an equal joint venture (JV) with China-based internet security company Qihoo and had launched the Dazen brand of smartphones. However, Coolpad?s share in the JV has fallen to 25 per cent recently. Subsequently, the company has decided to have its own branded presence in markets like US, Europe and India.
Coolpad is targeting a 3-5 per cent share in the Indian smartphone market by end-2016.
