Maxx Mobile to launch 500 devices in India this year

Mumbai: Domestic mobile phone maker Maxx Mobile is aiming to more than double its revenues to Rs 650 crore this fiscal as it launches about 500 models of feature phones, smart phones and tablet PCs in the Indian market.
The company, whose revenuesstood at Rs 234 crore for the fiscal ended March 2013,is looking at introducing 250 models offeature phones, 200 models ofAndroid operating system-powered smartphones and 50 variants oftablet PCs.
"We have been witnessing strong growth of25 per cent in sales month-on-month. Maxx recently changed its strategy and we are looking at launching close to 500 models ofsmartphones, feature phones and tablet PCs across various price points in the Indian market," Maxx Mobile Chairman and Managing Director Ajjay Agarwal told PTI.
At any point in time, Maxx will have 75-85 models (of phones and tablet PCs) in the market and the portfolio will be refreshedregularly to offercustomers choice at affordableprice points, he added.
Agarwal said the company has already launched 40 models in the first quarter ofthis fiscal and will launch the same numberofdevices in the next 60 days.
"Our mobile phones are pricedbetween Rs 900-16,000.We will launch a new tablet PC priced at about Rs 5,000next week, while anotherpowerful device priced at about Rs 8,000 will be introduced by the end ofthe month. The focus is on the sub-Rs 5,000 categoryand we want to offerthe best
devices to customers at the most affordableprice points," he said.
The company, which sells smartphones under 'Race' brandname, already has 35 models in the market and is looking at increasing this to 60 by next month.
"The market is moving towards smartphones. With our strong portfolioofproducts, we are confidentofmore than doubling ourrevenues to Rs 650 crore this fiscal," Agarwal said.
Maxx will also start productionofhandsets in its facility in Haridwar later this month. The plant has been set up with an investment ofRs 300 crore.
"We will manufacturesmartphonesand tablet PCs at the facility and will continue to import feature phones. In the next six months, the plant will start manufacturing 10,000units a month, which will be later ramped up to 500,000by April 2014. This will require an additional capex ofRs 100
crore," he said.
The fundingis being donethrough internal accruals, loans and investment from private equity. In 2010,Star Asia Holdingshad picked up 16 per cent stakes in the company.
The company had also extended its contract with cricketer M S Dhoni to be Maxx's brandambassador in December2010. "We continueto work with him. We will soonbring out some ads featuringhim...The marketing budget for this year is about Rs 50 crore," he added.
Dhoni hadsigned a Rs 29-crore endorsement deal with Maxx Mobile for a period ofseven years in December2010.