Kolkata-based handset manufacturer GeePee is aiming at Rs 1,000 crore turnover in one year, from Rs 300 crore now, on the back of retail foray and anticipated increase in handset sales.
The company is investing Rs 50 crore in foraying into handset retailing and after-sales service business.
Binay Agarwal, managing director of GeePee, said, "We are investing Rs 50 crore in setting up 200 retail outlets all over India. We piloted with four outlets in Kolkata and the response is good enough to decide on further expansion."
The company's retail outlets will employ 1,000 people.
The company is also planning to go in for initial public offering (IPO) sometime in 2012 to raise money for global foray, Agarwal informed.
"Retail is a growing area and consumers want options while buying handsets. So, along with our own brand, we will sell other brands like Videocon, Spice, and others," Agarwal added.
According to Indian Cellular Association, around 8.5 million handsets have been sold in Bengal this fiscal (2009-10), of which 5.9 million are in the sub-Rs 3,000 category.