MVL Telecom Ltd, part of MVL Group of Companies, today forayed into the mobile handset market with the launch of 8 phones at a price ranging from Rs 1,400 to Rs 5,000, and targets a top line revenue of Rs 1,500 crore from the new venture within a year."With the launch of 8 technologically advanced innovative products at competitive price points, we are targeting to sell sell 7 million handsets in 12 months time which will rake in Rs 1,500 crore," MVL Chairman Premadip Rishi told reporters at the launch function here.
Mr Rishi said the company will invest a working capital of Rs 400 crore over the next six months. The fund will be arranged through equity and debt.
The company, which has a R&D centre operational in Gurgaon, also plans to set up another centre in South India, he said.
Mr Rishi said the company would spend about Rs 72-80 crore on R&D in a year's time.
The company has made substantial investment in four service centres--L4--across the country, he said.
Leveraging on its strength, Mr Rishi said the company is setting up a manufacturing facility in Haryana which will become operational by December 2011. It will have a production capacity of 20 million units per annum.
Currently, the company imports handsets from various global manufacturers, including including China's Foxconn.
Talking about the Group's turnover, the Chairman said it hopes to achieve about Rs 800 crore during this year (July-June 2010) which is expected to go up to Rs 1,000 crore during July-June 2011, excluding telecom business.
The Group is already present in real estate and consumer electronics.
Company National Head (sales) Anoop Kumar said the company will have over 1,000 distributors and will reach 50,000 retail points across the country in a month's time. It will spend Rs 70 crore on marketing, Mr Kumar said.
The company claimed to be the country's first brand to introduce the 'Push Mail' service, saying there will be no fixed charges for data apart from the network GPRS charges.
The features of the handsets include high quality camera, video conferencing, dual sim and long battery life. MVL G81 is the flagship product.
Source: MVL Telecom Ltd.
MVL Mobiles in India: 8 Models of MVL Mobiles Launched in India
MVL G81 QWERTY keypad
MVL G80 QWERTY keypad
MVL G20 (Dual-SIM phone)
MVL G15 (Dual-SIM phone)
MVL G60 (Dual-SIM phone) QWERTY keypad
MVL G59 (Dual-SIM phone) QWERTY keypad
MVL G12 (Dual-SIM phone)
MVL G10 (Dual-SIM phone)