Homegrown mobile maker M-Tech expects to garner as much as Rs 10 billion by 2020, and has aggressive plans to start manufacturing of mobile phone accessories and components.
The Delhi-based company that provides affordable feature phones and smartphones also aims to ship nearly 5 million device units in the current fiscal on the back of demand in tier-II and tier-III cities.
According to ETTelecom M-Tech Informatics co-founder and director Vivek Agarwal informed that they have sales projections of around 5 to 6 million handsets this fiscal year. In the next three years we are expecting to reach a turnover of Rs 10 billion.
The mobile phone maker, however, has also set incremental targets internally that include attaining a business of at least Rs 3.4 billion in 2017-18 and Rs 5.5 billion by 2018-19 fiscal.
M-Tech majorly focusses on rural market and according to its top executive, it has been introducing handsets for a price as low as Rs 799 without compromising on quality features such as battery and speaker.
On the back of telcos rolling out fourth-generation (4G) technology based networks, the phone maker is also aggressively focusing to increase the uptake of its 4G-VoLTE (Voice over LTE) smartphones, and is eying to ship 150,000 such devices every month. In the consumer durable segment, the Delhi-headquartered company also exploring feasibility to foray into TV or solar panels in the near future.