COMIO to set up Rs 250-crore unit in Coimbatore

: Delhi-headquartered COMIO is starting its own manufacturing unit here by this year-end to meet the demand for smartphones, a top official of the company said today.

The company, a 100 per cent subsidiary of Hong Kong-based Tapwise Communication Co Ltd, is focusing on the mid-segment with a price range of Rs 6,000 to Rs 12,000, contributing 40 per cent of 10-12 million handsets per month in India, general manager (sales) of Comio Sujith Rayirath told reporters here.

With an expected growth of 20 to 25 per cent in another two years, the company is negotiating with many State governments to start the manufacturing unit at an investment of Rs 250 crore, said Sujith, who launched two mobile phones here. The land for the setting up the factory is being identified, he added