Meridian Mobile to launch low-priced cell phones

Meridian Mobile, part of the UK-based Meridian Group, plans to launch a mobile phone worth around Rs 4,500 in July this year. At present, the 5 models of mobile phones that it has launched in the Indian market cost between Rs 8,490 and Rs 10,990. The company plans to have 15 models in the market by the year-end.

"We will launch lower priced models of mobile phones in the Indian market shortly. We plan to launch 1 or 2 models every month targeting the youth and customers in the replacement market," Rajiv Khanna, CEO of Meridian Mobile, said in Hyderabad at the mobile phones' city launch.

Meridian Mobile has launched its flagship brand of GSM phones - Fly - across Maharashtra, Rajasthan, Delhi and the eastern regions. "We will have a pan-India presence within the next 2 months," Khanna said.

The company plans to register a turnover of Rs 100 crore this year through the sales of around 25,000 mobile phones. Globally, Fly has been launched in the East and Central Europe and will shortly enter the UK, Spain, Germany, Pakistan, Sri Lanka and Bangladesh markets. Meridian Mobile registered sales of two million phones worldwide last year and plans to up that number to 3 million this year.

"In India, our phones have a presence in 1,500 retail points and we intend to reach 5,000 by the year-end," Khanna added. The company is looking at a market share of 3-5% in India this year and has outlined a marketing spend of $2 million.

The UK-based Meridian Group is planning an initial public offering this year. Khanna, however, declined to divulge further details.