Meridian Mobile aims for 10-fold rise in handset sale

Mobile handset manufacturer Meridian Mobile, a subsidiary of UK-based Meridian Technologies, is expecting to sell over 3 million handsets in the country in the next financial year. This is a multi-fold increase from the present 300,000 units sold every year in the country.

The company, which sells the Fly brand of handsets, is also expecting to post a turnover of Rs 700 crore in the coming financial year.

"The telecom sector in the country is experiencing a robust growth and we intend to ride this wave. We will increase the number of outlets in the country and bring in new and advanced models to the Indian market," Meridian Mobile CEO (India Operations) Rajiv Khanna said.

The company is planning to increase the number of semi-knocked down units (SKUs) to 45 in the next quarter from the present 31 units.

Meridian Mobile will also increase its presence from the current 55 cities to 155. It is also planning to increase the number of shops selling the brand in Delhi to 1,000 from the present 250 and to 10,000 in Mumbai from the present 7,000.

"These initiatives will help us increase the market share of our products in the country," Khanna said. At present, Fly mobile has a 6 per cent share of the total Indian GSM handset industry.

To further strengthen its growth plan, the company is also increasing the number of its trade partners in the country. At present, the company's trade partners include Pantaloons, Big Bazaar, Essar The Mobile Store, Subiksha, Hotspot and RPG.

The company has also invested over Rs 130 crore in the Indian market.