Spice Mobility Limited has announced the switch to becoming a technology company focused on the mobile Internet space. The company also unveiled the strategic roadmap to complete the first phase of the switch by September 2011.
Dr B.K. Modi, chairman, Spice Mobility, announcing the switch said, ?India is already one of the two fastest growing large economies in the world and can very well become the largest economy. Mobile internet can enable India to achieve double digit GDP growth rate by capitalising on the country?s young population.?
?India has the largest youth population with 37 million under 14, greater than China?s 23 million, and equivalent to 20 per cent of the global youth population. Indian youth has moved away from the basics of roti, kapda and makaan and need mobile internet to make them fully productive. It is our duty to support the Indian government in making the country Internet literate and remove the digital divide. Our businesses have continued to lead the country?s move from office automation in 1980s to internet revolution in 1990 to mobile telephony revolution in 1995 and now the digital highway with mobile internet,? he added.
The switch will leverage the Spice Group?s businesses across sectors and geographies to catapult the historically neglected i2i economies in to emerging digital economies with mobile Internet. The company already has other subsidiary and associate companies in the i2i region (Ivory coast to Indonesia) and they intend to bring all of them under one fold. The company will thus become a true multinational operating across Africa, Middle East, Indian subcontinent and South-East Asia. This will also help double Spice group revenues in the next two years.
India?s move to 830 million mobile phones subscribers far out-stripping the PC industry is a harbinger of the paradigm shift in the developing nations of the world. Sectors ranging from finance, education, entertainment and healthcare will evolve in to mobile internet businesses. For the last two years Spice Mobility has been putting together the building blocks to leverage this paradigm shift.
The roadmap for the switch to becoming a mobile Internet company includes having a global supply chain for sourcing efficiencies and R&D support.
Spice devices already enjoy 22 per cent market share in some of the northern states. To replicate this success across the country, Spice is creating 7 clusters. This will give the required focus to meet the regions business requirements and be closer to the customers.
