Coolpad looks to sell 5 mn smartphones in India

Coolpad looks to sell 5 mn smartphones in India
Highlights

Coolpad Group Limited, a leading Chinese mobile handset maker, is now betting big on India as it looks to sell over five million smartphones in the country by end of the year 2016. It launched Coolpad Note 3 handset in the city on Tuesday.

Syed Tajuddin, CEO, Coolpad India, launching Note 3 smartphone in Hyderabad on TuesdayThe Chinese company unveils Coolpad Note 3 device in Hyderabad

Hyderabad: Coolpad Group Limited, a leading Chinese mobile handset maker, is now betting big on India as it looks to sell over five million smartphones in the country by end of the year 2016. It launched Coolpad Note 3 handset in the city on Tuesday.

“We are targeting five per cent market share in the smartphone segment by selling over 5 million units in the country by end of 2016. Such volumes are critical for consolidating our brand here,” Syed Tajuddin, Chief Executive Officer, Coolpad India, told media here after unveiling Note 3 device.

The company which produces 34 million smartphones in China already announced $300 million (over Rs 1,900 crore) investment for its Indian operations. It also signed a deal with Videocon to assembly its devices at the latter’s manufacturing facility in Aurangabad, Maharashtra. “We are going to invest the amount in India by the year 2017. Our plan is to set up an R&D centre and designing facility.

We will also set up our own manufacturing facility at a later date,” Tajuddin said, adding that Coolpad would confine itself to 4G handsets in India market. He further said that the company had so far sold 1 lakh units of Coolpad Note 3, its maiden handset available for sale exclusively on Amazon.in.

Priced at Rs 8,999, the 4G device comes with fingerprint sensor, 5.5-inch HD screen and 16 GB in-built storage, 13 MP rear camera and 5 MP front camera, among others. It supports 4G LTE, 3G and GSM networks.

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