Techzone, a mobile value-added service provider based in Chennai, is planning to invest around Rs 30 crore in product expansion, including its foray into mobile gaming service business, in the current fiscal.
The company is in talks with two international gaming service providers for collaboration, said Naveen Bhandari, director, Techzone. Earlier, it has announced a tie-up with Universal Music and Sony Music for package and delivery of international and regional music for mobile users.
Gaming comprises around 50 per cent of the total Wireless Application Protocol (WAP) market of around Rs 500 crore in India. It requires a totally different digital platform from what we have now and we will invest Rs 10 crore for setting up this alone, he said.
Including this, the company would invest a total of Rs 30 crore, from internal accruals. The other areas of expansion would be content generation and music platforms.
The company expects to launch the mobile gaming services by mid-July this year. It has also set a target to capture around 15-20 per cent market share in the mobile gaming segment in the first year of operation.
Under a two-year agreement with Sony Music, the company would provide soundtracks including international and regional music for the mobile customers with Techzone's digital platform, Bhandari said.
The company, which has a turnover of Rs 50 crore at present, is expecting a 100 per cent growth in the current fiscal through the tie ups, he said.