M-tech Mobile, a manufacturer of affordable mobile phone has announced an ambitious plan to more than triple its
top line to a Rs. 1,000 cr company by 2020.
To achieve its aggressive target, the company plans to foray in to mobile phone accessories, components and consumer electronics manufacturing.
In mobile phone accessories, M-tech Mobile plans to launch chargers, earphones, mobile phone plastic body and PCBA assembling components.
The company is scouting for locations to set up its manufacturing units, in addition to its existing unit at Baddi, Himachal Pradesh which has an installed capacity of 8 lakh units per month which can be doubled as per demand.
Additionally, to cater to increased demand, the company plans to launch a host of feature and 4G smartphone models which will help to ramp up revenues.
With a well-entrenched network of 600+ distributors, 20,000 retailers and 700+ service centres, M-tech is well positioned to leverage its country wide presence to transform into an end to end consumer brand.
In the last fiscal, the company has sold 3 million handsets and expects to close the current fiscal with sales volumes of 5- 6 million handsets and revenues of Rs 340 crore.
Commenting on the announcement, Goutam Kumar Jain, Co-founder, M-tech Informatics said, “As a brand we have always believed in the enormous middle class that resides in TIER II and TIER III towns who have the required means and harbor aspirations. We have solely focused on this demographics over the years by offering quality products at affordable prices and great after sales service.”
“Now, as we expand our product offering to accessories, components and consumer electronics while strengthening our smartphone product pipeline; we want to extend this approach to domestic as well as international markets, which we are actively exploring. Also, we are quite inspired by the government’s vision to create more Made in India brands with their focus on component level manufacturing to create the right ecosystem for domestic manufacturing,” added Jain.