Lemon Mobiles is set to invest Rs 150 crores in setting up a new manufacturing facility for mobile phones and LED televisions.
ET Telecom reported that the Noida based production unit is expected to become operational by 2020. And would be equipped to produce 1 million mobile handsets every month.
The firm also aims a turnover of Rs 1,000 crore in the next three years, and informed that it would also company come up with an R&D and testing lab in Shenzhen, China to design the next-generation mobile handsets.
Kapil Chugh, Chairman & Managing Director, Lemon Electronics Limited informed the English daily that the new manufacturing unit and R&D facility bring a significant potential for the brand to bounce back and continue its commitment towards product innovation and customer satisfaction. 70 percent of our revenue will come from mobile phone segment and we expect 30 percent contribution from LED TV business, he added.
Lemon Electronics already has a manufacturing unit for mobile phones in Greater Noida with a monthly production capacity of 6 lakh units. Chugh notified that the company has 450 distributors at present and plans to double it by FY 2019 to reach out to 50,000 retail counters.
Another source from the organisation has informed ET that their new expansion plans are centred on their commitment to adopting new technologies, empowering customers and delivering what market demands.