Karbonn Mobiles, a joint venture between Delhi-based Jaina group and UTL, today said the company is planning to invest Rs 100 crore in the current fiscal to grab about 7-10 per cent market share in the multimedia phone segment in the country.
"We will invest Rs 100 crore in the current fiscal for operations, functions and sales. We also plan to capture a market share of 7-10 per cent in India in the multimedia phone segment by expanding our portfolio of products," Jaina Group Managing Director Pradeep Jain told reporters.
The handset maker, which started its mobile phone operations six months ago, has already invested $5 million for product development and sales operations.
The company today launched its new range of multimedia handsets in the price range of Rs 2,000-5,000.
"Going forward, we plan to launch 3-4 new handsets every quarter in various segments like multimedia, touch screens and dual SIMs," he added.
The company said it is also targeting revenues worth Rs 1,000 crore from its operations by the end of March 2010.
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Once, the company starts selling 1 million units a month, it may start manufacturing the handsets from its Bangalore centre, which currently makes chargers and batteries.
"We have earmarked an investment of Rs 150 crore when we reach the critical sales volumes of around 1 million per month in 2010-2011," he said.