The mobile phone brand, COMIO is present in more than 1300 cities so far and has a footprint offline of more than 20000 stores in North and West India. The handset maker also has plans of setting up its own R&D unit for the India market in next quarter. Further, they look all set to enter the South and East this month.
“In the month of May, we are expanding to South and East regions. By next quarter we will be available pan-India and our short term goal is to reach 5% market share in India,” Sanjay Kalirona, Director & CEO, Comio told ET earlier in March this year. And true to that commitment, it looks like the handset maker is all set to expand it’s presence to South and East India. If sources are to be believed, this month, the brand will start with Bangalore to begin this.
The rumors are that the market entry will with a a device that has an immersive screen experience, houses a dual camera setup and comes with the latest Android version. If the company’s past record is to be considered, we are pretty sure that all this will be under INR 10,000. This segment is very aggressive and active and COMIO will look to leverage that to expand their India wide footprint to the south.
The company has very clear plans of starting its own facility this year. When they started, from the very first month they had tied up with contract manufacturers V-Sun and Hi-Pad for local manufacturing. The plan and idea is that, in 2018, they will have their own factory set up, according to Kalirona.
It is a fact that COMIO is investing close to Rs 500 crore in India, roughly 50% of which goes into marketing and the rest into manufacturing and other operational expenses. They have, in last 6 months, done a lot of investment towards retail visibility, brand building and setting up factory. Now they are looking to move forward with the traction and expand further in India.
The handset-brand has been recently very aggressively focusing on the offline market for which it has been in talks with large format retail chains (LFRs) to expand its offline presence in the country. In January, the company had said it would be targeting to double the number of retailers it had at the time (20,000) by April. Now May is here and looks like they are on track.
We will be covering this development very closely and we will keep you posted. Keep reading!