MAM

Hitech Mobiles looks at Rs 500 crore turnover by FY16, set up assembling units at Rs 30 crore

http://www.indiantelevision.com/sites/default/files/styles/smartcrop_800x800/public/images/mam-images/2015/01/17/MAM%20BRANDS%201.jpg?itok=hxHgwMXN

KOLKATA: Kolkata-headquartered budget smartphone maker Hitech Cellphone (HCPL) is looking to achieve a turnover of Rs 500 crore by the end of next fiscal 2015-16 as opposed to Rs 200 crore reported last fiscal, eyeing more than 100 per cent growth.

The company, which began mobile accessories business in Kolkata and grew to become a phone brand, is mulling setting up an assembling unit in West Bengal at an investment of Rs 30 crore. The idea of setting up an assembling unit here comes on the back of “uncertainty on import duty.”

“Our present revenues are Rs 250 crore of which mobile phone sales account for Rs 200 crore and the rest comes from accessories. We are bullish about the growth prospects and aims to become a Rs 500 crore company in the coming fiscal,” said HCPL managing director Mohammed Gyasuddin.

Hitech has expanded its product lines and reach, grew its revenue and market share as well.

HCPL at present is working on importing cellphones from Shenzhen, China. It procures products from original equipment manufacturer (OEMs) and original device manufacturers (ODMs). “We sell around 20 lakh phones in the domestic market every month,” informed Gyasuddin.

“We export to Nepal and Bhutan and we are planning to expand it to Bangladesh as well as Sri Lanka,” he said.

Talking about the increased import duty, he said, “Previously, the import duty was two per cent and it went up to seven per cent. Now, we don’t know if it’ll shoot up more. In that case, we will assemble the phone here (in India) and we may either opt for West Bengal or Himachal Pradesh to set-up the final assembly plant.”

When being asked about the markets they are betting on for growth, Gyasuddin said that the company is expecting major growth from upcountry areas in Bihar, Odisha, Andhra Pradesh, Karnataka, Kerala, Gujarat and Rajasthan among other markets.

The company further said that the brand Hitech has a strong presence in rural and urban market. “Our monthly sales growth in rural and urban population is around 30 per cent and 20 per cent respectively. Moreover, our products are recognized all over India through our e-commerce and channel distribution partners,” he said.

Latest Reads

http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/01/15/vodafone.jpg?itok=QD6BsTIf
Vodafone launches #StrongerEveryHour campaign

MUMBAI: Vodafone Idea, the largest telecom network in the country, welcomes the New Year with the launch of #StrongerEveryHour campaign that aims to highlight the improved network of ‘Vodafone SuperNet 4G - India’s Data Strong Network’ especially in crowded zones, where a tower is being added every...

MAM Media and Advertising Ad Campaigns
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/01/15/times.jpg?itok=h_jgDfNx
Worldwide media owned timesknowledge.in launches a new india-centric section – ‘know india’

TimesKnowledge.in, a knowledge portal from Worldwide Media Private Limited, announces the upcoming launch of a riveting new section – ‘Know India’ on the website.

MAM Marketing MAM
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/01/15/ashish.jpg?itok=09srwe9Z
Ashish Tiwari resigns as head digital marketing, PR at Hero Cycles

The head of digital marketing and PR at Hero Cycles, Ashish Tiwari has reportedly stepped down from his position.

MAM Media and Advertising People
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/01/15/ogilvy.jpg?itok=w6pLNaj-
Ogilvy appoints Reed Collins, Sonal Dabral to head APAC team

Ogilvy announced today a new creative leadership team in the Asia Pacific region. Reed Collins and Sonal Dabral will lead the agency’s creative efforts throughout Asia Pacific

MAM Marketing MAM
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/01/15/sachin.jpg?itok=agMUYwsX
Sachin Bansal invests $21 mn in Ola

According to a filing with the Registrar of Companies (RoC), Flipkart co-founder Sachin Bansal has invested around $21 million in the SoftBank-backed cab-hailing platform Ola in a Series J funding round.

MAM Marketing Brands
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/01/15/bike.jpg?itok=Pr9RzzVl
Ogilvy creates campaign for Bajaj Platina

Taking the ‘jhatka-free’ story, from Bajaj Platina’s previous campaigns, a notch higher, Ogilvy has created yet another ‘edge of the seat’ thriller for the launch of the new Platina ComforTec 110. The ad shows a tale of two bomb squad technicians trying to find a solution for an un-diffusible bomb...

MAM Marketing MAM
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/01/15/logo.jpg?itok=S-tIN5M6
Publicis India bags creative duties of Netmeds.com

Leading online pharmacy Netmeds.com has appointed Publicis India to manage its creative duties. The agency was shortlisted after a multi-agency pitch and was chosen for presenting a sharp consumer-focused communication plan that was in sync with what the brand had envisioned for the Indian market.

MAM Marketing MAM
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/01/14/anushka.jpg?itok=yk_SdB5s
Rajnigandha Pearls is Ready to Shine with Goodness, Yet Again, With Anushka Sharma

The leading Bollywood actress, Anushka Shama is the new brand ambassador for Rajnigandha Pearls, from the House of DS.

MAM Marketing MAM
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/01/14/tata.jpg?itok=6J_2Q7NO
Tata Harrier kick starts the Tata Mumbai Marathon 2019 trophy tour

Tata Harrier- the official lead car of the Tata Mumbai Marathon 2019, today started the Tata Mumbai Marathon Trophy Tour 2019

MAM Marketing MAM

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories