MobileNxt Teleservices, a start-up firm founded by professionals turned entrepreneurs, has announced the launch of its mobile retail chain across the country. | |
| Funded by HNIs with an investment of around Rs 20 crore, the company intends to set up 31 stores, focussing on Tier II and III towns in the country by end of the year. |
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| According to the company, it intends to offer the entire range of mobile handsets, choice of cellular service providers and also maintenance under a single roof. |
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| Said Vijay Menon, CEO, MobileNxt: "With the boom in mobile industry over the last two years in the country, there is a huge need to provide value based consumer experience to this growing market. Based on our research, we believe that this is the right time for a concept like MobileNxt to enter the Indian market and take on this unfulfilled need." |
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| Added Romy Juneja, COO, MobileNxt: "Our primary focus is on creating an organised retail format in the underserved Tier II & III cities whereas our presence in large metros will be through ship-in-ship formats and malls thus establishing a presence in the relatively saturated markets of the country." |
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| Company officials also added that they will offer a exchange scheme with prices decided when one buys a handset depending on the time-frame in which the handset is sold back for upgradation. |
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| MobileNxt hopes to have a turnover of Rs 380 crore in three years and in the initial phases will depend on its own network. "Once our brand is established, we will adopt the franchisee route and they will constitute close to 66 per cent of our network in three years time," noted Juneja. |
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