Vietnamese handset company Mobiistar is set to foray into the Indian market later this month with its range of smartphones and will compete against giants like Samsung and Xiaomi.
"We have studied the Indian market and seen that the Rs 6,000-10,000 (smartphone segment) is growing at a strong pace and we want to bring in our products that are packed with features and are value for money," Mobiistar Group CEO Carl Ngo told PTI.
He added that the company will bring in about 5-6 devices in the next few months in the Indian market. It will begin with online channels and then expand to offline retail as well.
Ngo said the company has partnered with V-Sun Technologies in India to assemble its handsets for the Indian market.
"As we scale up, we will look at how we can set up our own manufacturing here," he added.
Mobiistar also plans to have up to 850 service outlets from the day one of launch, which it will increase to 1,000 centres after three months.
Ngo said Mobiistar is among top five handset vendors in Vietnam and has expanded to South East Asia with countries like Cambodia. He added that Mobiistar will soon enter the Gulf Cooperation Council (GCC) region as well.
The company currently has a team of about 40 people in India and intends to increase it to 200 people in the next few months.
Ngo said the company is hiring people across various roles like sales and marketing, and product development.
India is one of the world's largest smartphone markets and growing steadily. In the last few quarters, a number of new players like Tambo and Britzo have entered the Indian market to cash in on the opportunity.
As per research firm IDC, the Indian smartphone market witnessed 14 per cent annual growth with a total shipment of 124 million units in 2017, making it the fastest growing region amongst the top 20 smartphone markets globally.
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