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Jabra hikes stake in Indian JV to 51%

Press Trust of India  |  New Delhi 

today said it has increased its shareholding in its joint venture with in to 51 per cent from 5 per cent previously.

Jabra, which did not disclose the financial details of the transaction, said the joint venture entity will now be called 'Connect India'.

Also, - the and founder of Innova - will continue to lead the JV as its Connect has around around 120 employees.

Innova had been distributing devices of Jabra (part of Copenhagen-based GN Audio) in for over a decade.

"This is a unique model that we are trying in the Indian market. This partnership will strengthen Jabra's presence in and bring us closer to our customers. It is our ambition to become the vendor of choice and this is a step in the right direction on this journey as we look to grow our market share," Jabra told reporters here.

He added that the market opportunity in India is worth about USD 50 million.

As part of the partnership, the company has launched a new product -- Biz 1100 -- that has been designed using insights from Indian users. The price of the device will range from USD 50-65 (ex-GST) and will be available for Indian customers later this month.

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

First Published: Wed, May 16 2018. 19:55 IST