You are here: Home » Technology » News » Mobiles & Tablets
Business Standard

China-based iVOOMi eyes India's smartphone market, to invest Rs 250 cr

Plans to launch portfolio of smartphones in India with world-class features by next quarter

Topics
Ivoomi Enters India

IANS  |  New Delhi 

iVOOMi smartphones
From left- Kartik Aggarwal, Jessy Liu, Ashwin Bhandari, Radhika Aggarwal and Nitin Kochhar at the launch of iVOOMi smartphones in New Delhi

Chinese electronics firm iVOOMi on Thursday announced to invest Rs 250 crore to further strengthen its entry-level smartphones segment in the country.

The investment will be done in two phases. In the first phase, the company will invest in futuristic technologies to bring advanced products at an affordable price and will focus on setting up its manufacturing facility in India.

In its second phase of investment which will be in 2018-2019, the brand will focus on setting up R&D capacities and will also expand the manufacturing capacity within the country.

"With the significantly rising penetration of the iVOOMi smartphones, our mission is to establish iVOOMi as the most preferred smartphones brand in the entry-level segment," said Ashwin Bhandari, Chief Executive Officer, in a statement.

The company is working closely with giants like Qualcomm, MediaTek, Spreadtrum, Intel, Samsung, Galaxycore, OmniVision, Asahi, DragonTail and BnK to develop future-ready products for users across tier II, III and IV towns in the country.

It also plans to launch an extensive portfolio of smartphones in India with world-class features by the next quarter.

Apart from smartphones, the company also aims to introduce smart devices, smart accessories and personal care electronics this year.

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Thu, June 08 2017. 18:57 IST
RECOMMENDED FOR YOU
RECOMMENDED FOR YOU