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Coolpad India aims 10 times growth in handset sales in festive season

Business Finance

Press Trust of India  |  New Delhi 

Mobile phone maker Coolpad Technologies India on Monday said it expects to post 10 times growth in handset sales during this festive season as compared to the year-ago period, a senior company said.

The company claims to have invested 7 per cent of the total revenue generated from online and offline sales during June-September in marketing for the festive season.

"Our marketing investment is 7 per cent of the total revenue generated from online and offline sales from June onwards till date and we are expecting a major boost in sales with a target of 1 lakh units to be sold in this festive season, this is 10 times higher than last year," Coolpad Technologies India, online business head, Pankaj Upadhyay told PTI.

The company has earmarked about Rs 3,500 crore for investment in India over next five years to ramp up local manufacturing and push sales.

"To be able to have a faster turnaround, we now have 100 per cent manufacturing in India. We are counting on the two new devices from Coolpad-- Cool 3 plus, which was launched earlier this year in June, and Cool 5 priced at Rs 7,999 which has been made available from September 30 onwards on Amazon," Upadhyay said.

The company announced re-entry into online sales after a gap of around eight months in June with launch of Cool 3 plus smartphones.

Coolpad aims to sell 30 lakh mobile phones by end of this year with re-entry into online segment, Upadhyay had earlier said.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Mon, September 30 2019. 18:30 IST