As most of the domestic handset manufacturers have decided to slowly shift the focus in favour of high value smart phones, Maxx Moblink has decided to continue to bet on feature (basic) phones at the lower end of the spectrum.

“Majority of the 18 million phones we would like to sell in 2015-16 will be feature phones,” Ajjay R Agarwal, Chairman and Managing Director of Maxx Moblink, told Business Line here on Wednesday.

Asked why it wants to stick to the low end segment, he said that it was because others lost interest in the market where there was a huge demand for such phones. “We sell feature phones in the range of Rs 700-Rs 1,200 and smart phones starts with Rs 2,000,” he said.

The company, which sold 5 lakh phones a month in 2014-15, is targeting to treble the number to 15 lakhs as it launches 40 models next financial year. “We are targeting a turnover of Rs 1,500 crore next financial year as against Rs 660 crore last year,” he said.

PE investments

Star Asia of Singapore invested Rs 90 crore in 2010. “We might go for a second round after one year,” he said, refusing to hint the size of expected investments.

The company, which sources its phones from foundries in China, is going to start manufacturing at its facility at Haridwar. It could produce one lakh phones a day.

Agarwal was here in connection with the nationwide roll-out of its 15 exclusive smart care centres in the country. In the second phase, it would add 85 more service centres in the year.

With a share of 1 per cent in the Indian mobile handset market making it seventh largest phone maker, the company felt that there was enough scope in the market as technological changes were making phones obsolete within months. “People don’t change their TV or refrigerator for years but would like to own a latest phone,” he said.

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