Gionee to invest USD 50 million for manufacturing in India
New Delhi: Chinese mobile handset player Gionee on June 30 said it will invest USD 50 million in India over the next three years to set up a manufacturing facility. The company is in talks with a few contract manufacturers for the facility but did not divulge further details.
"The investment we are looking at is about USD 50 million over the next three years. It will be contract manufacturing," Gionee India Country CEO and MD Arvind Vohra told PTI. Vohra said he visited various manufacturing facilities across the country during the last one month. The company, which achieved a turnover of Rs 2,750 crore in 2014-15 is targeting to double it in the ongoing financial year.
To expand its retail footprint across the country, Gionee has partnered with leading retail players including Spice, The Mobile Store, Mobiliti World, Jumbo Electronics, Croma Retail and Planet M. Gionee said its handsets will now be available across over 1,000 stores and the brand aims to sell over 35,000 additional devices every month and scale it up at a constant pace in the coming future.
This association is our effort to increase our presence and making our handsets readily accessible to our customers anywhere and everywhere. Through this move we look at increasing our sale by over 10 per cent in the coming year," Vohra said. Currently, Gionee sells through its exclusive brand stores, shop-in-shops and the company’s e-store. It aims to open 250 brand stores in next one year and also increase the service centres to 1,000 by end of 2015.