Come August, and the mobile phones market will boast the cheapest handset at just Rs 499, courtesy the Xenitis Group.
The company announced on Tuesday that it would launch its handset priced at just Rs 499 and unveiled a plan to set up West Bengal's first cellular phone assembly line.
Xenitis Group Chairman and Managing Director Santanu Ghosh said the company would also bring laptop in the market at Rs 14,990.
Coming to mobile phones, he said: "There will be four models to choose from ranging between Rs 499 and Rs 2000 targeted at entry level users and we will be OEM supplier of these phones," he said.
The company also unveiled a 150cc scooter from another group company Global Automobiles at Rs 34,990.
Ghosh said the company would have a mobile manufacturing
facility close to Xenitis Infotech facility at Sugandha, in Hooghly.
"We have sought 10 acre of land and we will invest Rs 250 crore (Rs 2.5 billion) for mobile manufacturing facility," he added.
Ghosh said the group would invest Rs 430 crore (Rs 4.3 billion) in the next six months and was targeting Rs 2,000 core (Rs 20 billion) turnover in 2008-09.
The company claimed to have achieved a turnover of Rs 1,000 crore (Rs 10 billion) in 2007-08.
Ghosh said Xenitis which was making 'Aamar PC' branded computers has decided to move out of own brand and focus in OEM manufacturing.
The company, which had attempted to raise fund from the capital market in the past but had failed, sold 5 per cent to a venture fund of SBI to raise Rs 25 crore (Rs 250 million).
© Copyright 2024 PTI. All rights reserved. Republication or redistribution of PTI content, including by framing or similar means, is expressly prohibited without the prior written consent.
