Banking on its low end designer phones and distribution network, Bling Telecom Pvt. Ltd. is eyeing a turnover of Rs 400 crore by the end of the financial year 2010-11. The company, which manufactures and markets mobile handsets under the brand names of 'Movil Mobile' and 'Bling Telecom', has already pegged a revenue of Rs 125 crore in the current fiscal.
"Currently we are offering 15 models of Movil Mobile and Bling Telecom handsets and will be adding 14 more handsets soon. Our products are primarily targeted at design, feature and cost conscious users. Since they are priced in the range of Rs 1,500-5,500, we believe the company will be able to grow quickly in the market. Moreover, we are enhancing our distribution network by 2-3 times. Considering this, we are aiming at a turnover of Rs 400 crore in the first fiscal year," said Naresh Malhan, corporate advisor to Bling Telecom Pvt. Ltd.
Having already launched its handsets in northern and southern regions, Bling Telecom recently launched its products in the western market including Gujarat. Of the 800,000 handsets per month market of Gujarat, the company expects to garner a share of two per cent initially.
"Our focus is on establishing ourselves as a fashion and design phone brand. While Movil Mobile brand will also associate itself with leading designer names, fashion labels, etc. to cater to this segment, Bling Telecom brand will cater to the mass market," said Malhan.
Apart from ramping up distribution network, Bling Telecom is also adding close to 40 more service centers to the current 17.
In next 2-3 months, the company will be investing around Rs 20-25 crore in the western region for expansion of its distribution network, Malhan added.
