Olive Telecom, a Gurgaon-based convergence solutions device developer, is expecting to garner 40 per cent of its revenues to flow in from India operations, primarily driven by machine-to-machine (M2M) devices and smartphones, said its chairman Arun K Khanna.
“Currently with revenues of $110 million (approximately Rs 512 crore), we are aiming at becoming a $1-billion company by 2012, selling our products across 15 countries and working with 100 operators globally by then. About 60 per cent of these revenues are expected to come from carriers,” he told mediapersons here on Tuesday.
A relatively late entrant in the mobile handset market in India, the seven-month-old Olive brand works with 28 carriers worldwide and has so far sold 20 million devices. The company plans to sell 10 million units this year.
Unveiling OlivePad VT100, which the company claims to be the country’s first 3.5G-enabled mobile computing device, here, Khanna said the pad would hit the market by the end of this month and the company was targeting to sell 100,000 units globally in the next nine months.
The device, which runs on Google’s Android operating system, comes with a price tag of between Rs 21,000 and Rs 25,000 depending on the memory options.
“Already present in the Indonesian and African markets, we recently got a breakthrough in Mexico and Russia as well. We will be working with a North American carrier in six months from now,” he said, adding the company had planned to spend Rs 100 crore on brand recognition exercise and an equal amount on research and development in the next 18 months.
Khanna said the company was seeing huge potential for smartphones and the Android platform. It would be rolling out a newer version of the OlivePad in the next six months. “Our idea is to bring out 2-3 devices every month.”
