Consumer durables maker Usha Shriram plans to launch a range of smartphones and feature phones to make a foray into the mobile handset segment.
The company would primarily focus on tier II & III markets with its GSM and CDMA phones whose prices would range between Rs 700 and Rs 10,000.
"Initially we are planning to launch six models in features phones and four models of smartphones. By February end, we are intending to launch it," said Usha Shriram Sr VP Satnam Sandhu.
The company has a target to sell 2 lakh phones per month in 2016 and would add new models every month, he said, adding that it has target to have around one per cent of the handset market in the first year.
"We would start North and East region first. All the sets would be manufactured here," said Sandhu adding the company is in talks with some vendors for contract manufacturing for its hand sets.
The company would leverage on its brand name while promoting the new hand sets, Sandhu added.
"Usha Shriram is a house hold name and it carries a legacy in the market," he added.
The company is present in water purification, lighting and cookware segment. It also sells furniture under Usha Shriram Lexus brand.
Apart from that it also has a chain of boutique hotels under the name Usha Shriram Lexus Hotels and Resorts.
