Meridian to launch low-priced cellphones soon

Meridian Mobile, part of the UK-based Meridian Group, plans to launch a mobile phone with a price tag of around Rs 4,500 in July this year.

At present, the five models of mobile phones that it has launched in the Indian market cost between Rs 8,490 and Rs 10,990. The company plans to have 15 models in the market by the year-end.

"We will launch low-priced models of mobile phones in the Indian market shortly. We plan to launch one or two models every month targeting the youth and the customers in the replacement market," Rajiv Khanna, chief executive officer of Meridian Mobile Private Limited, told mediapersons in Hyderabad at the launch of their mobile phones in the city.

Meridian Mobile has launched 'Fly', its flagship brand of GSM phones, across Maharashtra, Rajasthan, Delhi and the eastern regions. "We will have a pan-India presence within the next two months," Khanna said.

The company plans to register a turnover of Rs 100 crore this year through the sales of around 25,000 mobile phones.

Globally, 'Fly' has been launched in the East and Central Europe and will shortly enter the UK, Spain, Germany, Pakistan, Sri Lanka and Bangladesh markets. Meridian Mobile registered sales of two million phones worldwide last year and plans to up that number to three million this year.

"In India, our phones have a presence at 1,500 retail points and we intend to reach 5,000 by the year-end," Khanna added.

The company is looking at a market share of 3-5 per cent in India this year and has outlined a marketing spend of $2 million.

The UK-based Meridian Group is planning an initial public offering this year. Khanna, however, declined to divulge further details.