Chinese telecommunications equipment and network solutions provider ZTE said the company is targeting $800-million revenue next year in India.
This is double of what the company earned as on October this year. Globally, ZTE’s revenue was at $6.14 billion in the first half of 2013.
The company expects a significant portion of the revenue growth to come from its handset business.
ZTE had partnered with Pune-based Calyx to enter the handset market in India in May.
Since then, it has launched many smartphones and aims to sell two-million units by next year.
Expansion plans
As a part of its retail expansion plans, the company also inaugurated its new exclusive experience zone in Gurgaon and will invest $10 million in marketing and branding initiatives in India.
“While online purchasing is fast picking up in the country, there is still a large Indian audience which prefers to have a hands-on experience of the product before making any purchasing decision,” Xu Dejun, Chief Executive Officer, ZTE India, said.
The ZTE exclusive zone in Gurgaon will also showcase the company’s limited edition of smartphones, data cards and accessories, he said.
The company will set up more stores in other potential cities and continue to invest aggressively in its terminals business, he added.
Reinforcing its presence of over 13 years in the country, ZTE recently forayed into the open market with a large portfolio of smartphones and data cards.
Managed services
In addition, ZTE entered the managed services space with MTS after service contracts.
On the network side ZTE had bagged a deal to manage Airtel’s 4G network in Kolkata and Punjab.