The influx of Chinese original device makers (ODM) – who used to at one time make for brands such as Micromax, Lava, Karbonn and Intex – into India continues unabated, with the latest being TopWise Communication.
According to a report published in Economic Times, TopWise, which used to make a majority of Micromax’s phones, will be launching its Comio brand by mid-August and plans to invest Rs 5 billion in the next one year on local manufacturing, R&D and marketing, among others, lured by a market, which is the fastest growing in the world.
Ironically, Chinese brands, backed by investments of top dollars, are now rapidly pushing the Indian brands down the pecking order in their home market, having already captured over half the market with the likes of Xiaomi, Oppo, Vivo and Lenovo among the top five in smartphones, trailing just Korea’s Samsung. Other ODMs that have made their India entry include iVOOMi, Coolpad and Nubia, while the likes of Tinno, Huaqin and Malata are believed to be also exploring the Indian handset market.
Comio, which is planning to initially launch four smartphone models in the Rs 6,000 to 12,000 range, is targeting sales of 1 lakh units a month within a couple of years, and a market share of 4-5 percent in three years, Sanjay Kumar Kalirona, CEO & Director at Comio, said Wednesday.
Comio has planned an investment of Rs 5 billion in the next one year, out of which it will be spending Rs 2.5 billion on marketing, Rs 1.5 billion on R&D and factory, and Rs 1 billion on sales and service network, besides on operating expenditure.