Intex launches 'Wishnbuy.com'

Intex Technologies has launched its own e-commerce marketplace called 'Wishnbuy.com' .

It also launched a mobile wallet called 'MyWallet' yesterday.

Intex has partnered with Tata Teleservices' mobile wallet mRUPEE to launch Intex MyWallet, which puts it in direct competition with larger rival Micromax that has mobile wallet service 'Udio' in partnership with TranServ and Visa.

With these two announcements, Intex has diversified into the digital space and is looking to drive future growth of the company by offering premium value added-services.

Intex-funded Wishnbuy will be running as a separate entity. The company used this pitch to convince diverse manufacturers and even competitors like Samsung, Micromax, Lava and others, to sell their products on the portal.

The company has hired third-party delivery companies, Delhivery and Aramex, to handle last mile logistics.

Intex Technologies has been going through a period of internal restructuring and is dealing with tough competition in the smartphone market with other Indian and Chinese vendors.

Its mobile phone shipments dropped sequentially in the quarter ended in June.

"Three years to five years is the time we will be looking to competing with them (existing dominant players such as Flipkart and Amazon)," said Madhur Arora, General Manager ,Strategy and Commerce, Intex.

Intex is relying heavily on being an Indian manufacturer and longtime consumer electronics seller, to expand its ecommerce business by understanding optimal price points, product categories along with exclusive product categories to drive traffic to the website.