Maxx Mobile to launch 40 models by March 2012

VARINDIA- INDIA'S FRONTLINE IT MAGAZINE

Maxx Mobile has planned to launch up to 40 more models this fiscal. Maxx currently enjoys a market share of 3 per cent in the mobile handset market that is estimated to be Rs. 33,171- crore. The Mumbai-based firm targets higher revenues by selling 6-million handset units this fiscal as compared to the 3.6-million units sold last fiscal.

"We plan to launch around 40 models by March 2012. We will be launching 4 models in the next quarter in the smart phone series. The configuration and specification of the product (smart phone) is under planning right now. The price of smart phone would be in the range of Rs. 5,000-8,000. The company has already launched 15 models so far, with the latest being the khamoshhh, jazz and tiny series," Maxx group Chairman & Managing Director, Ajjay Agarwal said.

Agarwal further shared, "Last year, we (Maxx group) had achieved revenue of Rs. 1,450-crore. This year we are expecting about Rs 1,800- crore of revenues. The company normally invests 0.5 per cent of its revenues in research and development of the mobile phones. It also plans to make a foray into the mobile payment facility space, and is currently working on developing a platform to facilitate the same. Mobile payment is the future. Right now, it is new for us, but after one year, it will be a basic requirement for us. We are investing in it. Our team is working on it. Till we have something substantial, we cannot share the details. Asked when the product would be available in the market. We cannot decide the time-frame, because the type of components and other technology should be available in the market, so that the product can be launched."


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