Gionee plans Rs 650 cr investment in Indian market

Gionee plans to invest around Rs 650 crore this year as it looks to be among the top five smartphone brands in the country, a senior company official said.

"In 2018, we are looking to be among top 5 smartphones brands in India. We will increase marketing spend this year by approximately 30 per cent compared to investment made last year.

"Our strategy is around capturing 20 per cent share in smartphones prices in the range of Rs 8000-20,000," Gionee India National Sales Director Alok Shrivastava told PTI.

He was speaking on the sidelines of the launch of two new smartphones -- F205 priced at Rs 8,999 and S11 for Rs 13,999.

Gionee had last year spent Rs 500 crore in marketing. An increase of 30 per cent would translate to around Rs 650 crore.

"We will focus on strengthening our presence in 42,000 retail outlets rather than further expansion," Shrivastava added.

He said the company did not launch any new phone in the last six months as it was re-calibrating its marketing strategy and new product portfolio for India.

Shrivastava said the company will increase the number of exclusive service centres from 477 to 650 by end of this year.