Coolpad To Invest $500 Million In India Over The Next 5 Years

• Coolpad is investing in offline channel, opening new regional offices and also ramping up local manufacturing
• Coolpad is poised to become one of the major brands in India’s 5G handset market once the technology is commercially rolled out by telecom operators

Coolpad will invest $500 million in India over the next five years to strengthen its presence and to take on its rivals in the 5G landscape whenever the telecom ecosystem is commercially ready in the country. 

The company has last week appointed Fisher Yuan as its new India chief executive officer to drive growth for the handset business. He has been tasked by the management to create a strategic roadmap for market penetration. 

Going forward
Fisher told ET in an interaction that the organisation has lined up $500 million for India for the next five years. He further mentioned that Coolpad is investing in offline channel, opening new regional offices and also ramping up local manufacturing.

Coolpad last year raised investment of $300 million from Shenzhen-based firm Power Sun Ventures, following its separation from bankrupt Chinese technology company LeEco. 

Fisher said Coolpad is poised to become one of the major brands in India’s 5G handset market once the technology is commercially rolled out by telecom operators.