It gives me immense pleasure to present the 26th AnnualReport of your Company "Optiemus Infracom Limited" for the financial year2018-19.
Telecom markets across emerging economies are in transition from last 2years. Telecom industry faced an extraordinarily turbulent year in India throughunprecedented disruption. Extreme pricing pressure accelerated market exits and industryconsolidation. Even though the transition is turning out to be stressful entailing massivedislocation in the short run the new industry structure will ultimately prove beneficialfor the sector.
The company has taken stringent measures to control costs and increaserevenues in the past year. We have taken several decisions to focus on introducing newinnovative products at competitive prices to maintain better customer experience. YourCompany continued to focus on gaining smartphone market share while growing feature phonevolumes. The strong and rapid growth of the smartphone market has been made possible byseveral liberal policies of the Indian government along with huge consumer demand whichis increasing day by day. Your Company has always been upbeat and swift in understandingthe needs of changing market and responding to them.
During the year the Company launched 2 (Two) Blackberry devices viz.BlackBerry Evolve BlackBerry EvolveX and 1 (one) mid-segment android deviceviz. Kult Inspire' under the brand Kult by Optiemus Infracom Group at a budgetfriendly price. Presently the Company's main focus is on invention of innovativetechnologies as it is intending to diversify itself from the gamut of mobile phones. Infurtherance of its object it launched a technology-based personal security & safetydevice viz. mybuddy a distress companion that can be easily connected to the smartphonevia Bluetooth during the FY 2018-19.
Further the Company owns a huge immovable property situated at PlotNo. 2A Sector-126 Noida Uttar Pradesh 201301 and it is intended to monetize thesaid property for the purpose of come out from its non-core business segment andreduction/re-payment of Company's debt liability arising from Inherent Lease RentDiscounting (LRD) Facility and become a debt free Company.
I would like to extend my sincere thanks to the Board membersemployees shareholders customers partners and bankers for the continued faith &support in the Company. I will look forward to your support and guidance as always totake this company to even greater heights.
|Ashok Gupta |
|Executive Chairman |