MUMBAI: Home appliances major Jaipan Industries on Sunday disclosed its plans to foray into the mobile handsets business where it is eyeing up to five per cent market share in a year's time.
"We are coming out with 12 mobile handset models, of which three hi-tech models will be launched by December. We are targeting a sale of 50,000 pieces per month," Jaipan Industries' Director Atin Agarwal told media here.
The handsets would range from Rs 1,099-Rs 4,000 a piece, he said, adding the company was eyeing a four to five per cent marketshare in a year's time. "Once we sustain in the market, the profitability will go up to 14-15 per cent," he said.
The total mobile handset market in India is around 75 lakh handsets per month, of which Nokia leads with more than 30 lakh handsets, followed by Samsung with 15-18 lakh pieces per month, he said. The company aims to be among the top 10 players and is eyeing the 6th-7th spot initially, he said.
Jaipan has spent around Rs seven crore in building-up inventory, he said.
Initially, the company will assemble the handsets in China. "After two-years, we plan to start manufacturing them from our existing home appliance manufacturing facilities," he said.
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