Wynn Telecom, a part of the Rs 2,500 crore SAR Group, today said it plans to invest Rs 500 crore in the Indian market by the end of FY12.
The company plans to invest Rs 100 crore in the 2010-11 fiscal on distribution and service network development, product development, brand development and advertising.
It will spend another Rs 400 crore in the 2011-12 fiscal to open technology development centres in India and China, acquire VAS and UI software companies and set up manufacturing facilities in India and China, besides marketing and advertising.
Unveiling a range of mobile phones in Bangalore today, Wynn Telecom Co-founder and Managing Director Arvind R Vohra said: "Wynncom will be focusing more on VAS and developing features which would act as a differentiator in the market. Moreover, the company will be targeting the youth segment that are more tech-savvy and love to have more and more value-added services and applications in their mobile phones."
"Bangalore, the IT hub, will play a vital role in getting the young generation engaged with the Wynncom Brand," he added.
"With our wide range of multimedia and youth-oriented phones which are smart, affordable, trendy and attractive, we are confident of penetrating into the mobile phone market and capturing a 5 per cent market share by December, 2010," Vohra said.
The products will be marketed under the brand name Wynncom and will come with a price tag between Rs 1,500 and Rs 5,000, he said.