Meridian Mobile, a part of the UK-based Meridian Group, is targeting to achieve a 10 per cent market share in India by the end of current fiscal and has plans to increase its handset model range from present 34 to 100 by this year-end.
"At present we have three per cent market share across India. The company is now rapidly expanding in India by developing a large offering under Fly brand," Ranjit Sidhu, sales head of the company, told reporters here.
Giving details about company's future plans, he said, "After we launched our flagship brand Fly two years back, our focus now is on store branding and forging alliance with retailers".
"We have engaged 9,000 top retail outlets of the country, to increase our presence and widen our hold from 90 to 150 major towns by next year. We are planning to enter into a tie up with Europes' leading retail chain Euroset for sale and distribution once they come to India.
"We also plan to increase strength of our employees from 5,000 to 10,000 by next year," he said after launching four new Fly models for this region here.
He said the company's turnover is estimated to be Rs 207 crore for current financial year and Rs 1,000 crore in the next fiscal.
"By Diwali this year, we plan to roll out more handset models and take their total number to 100," he said, adding future prospects will also include positioning the company as "one of the leading players in South Asian countries like Pakistan, Sri Lanka, Bangladesh and Dubai".
He said that in the last financial year, the company had sold 8.5 lakh handsets throughout India.
