UK-based wireless solution company Telit, which makes electronic modules for machine to machine (m2m) communication, today announced its entry into India and has aims capture 40% market share in terms of unit sales by 2014.
"We see potential market of 10 million units in India for m2m business over period of next five years. Telit has a target to capture 40% of this market by 2014," Ashish Gulati, country sales manager for India, Telit Communications said.
The company had been doing business in India through distributors since last two years but business potential in the country propelled it to open direct office here.
"We have opened office in Delhi and technical support centre in Bangalore. In coming days, we will open another technical support centre in western India," Ho Sang Kim, Asia Sales Director, Telit Wireless Solutions said.
Telit sees major business potential from government projects from sectors namely power, transportation, Unique Identity enabled projects, vehicle tracking system and others.
The company make electronic modules that are installed in to devices and the function of the device can be controlled remotely.
These modules can be used for switching on or turning off a device, controlling temperature of air conditioners through a mobile phone, collecting data automatically from a machine installed remotely like vending machines and others.
Telit will focus more in tie-up with local manufacturers to integrate its technology with their products.
"We will look for collaborating with low tier manufacturers in India to value add in their devices and share our expertise with them," Gulati said.
Telit is listed on London Stock Exchange. In 2010, the company had global revenue of $132 million approximately. This year company expects total revenue of $199.5 million.
Telit recently acquired two of its competing business GlobalConect and Motorola's m2m business for $2.9 million and $23 million, respectively.
