Globsyn eyes European markets

Globsyn Technologies, an IT services company, is eying European markets for expanding its consumer electronic (CE) parts management division.

Speaking at a press conference in Kolkata on Monday, Bikram Dasgupta, chairman and CEO, Globsyn Technologies, said the operations of the consumer electronic parts division of the company would be significantly scaled up in the coming years and expanded to European countries like Sweden, Belgium and Switzerland.

The company expects to reap benefits from its recent membership in Consumer Electronic Association, USA, through which it will be participating in trade fairs in the European countries, according to Dasgupta.

Globsyn has invested about Rs 3 crore over the last six months for technological up gradation in the CE segment.

About Rs2 crore had been marked for marketing activities abroad in the coming months, he said.

At present, Globsyn's operations in the CE segment are wholly based in the US, where it has about 8 to 10 end users.

The group turnover of Globsyn last fiscal was close to Rs 40 crore, with the CE parts management division contributing roughly Rs 4 crore.

The consumer electronic management sector in the US is about $ 4 billion. The industry, which is relatively new even in advanced countries, is expected to grow by leap and bounds, given the technological innovations in the consumer electronic segment. The industry basically deals with simplifying the technicalities involved in using high- end consumer durables through specific softwares.

According to Dasgupta, over the last five years Globsyn has processed over 7.8 billion CE parts, 2 million PDFs and 4 million images in the US. The company has employed about 100 professionals in the segment.

After taping the European markets, Globsyn would expand to the Middle and Far East and Australia in the CE segment.

"In India the CE parts management segment is yet to take off, though we are ready for the Indian markets. We are in talks with companies like Sony, Sharp and JVC for similar ventures in the country," said Dasgupta.