Computer, IT products, mobile and electronic goods manufacturer, Intex Technologies (Private) Ltd plans to invest Rs 100 Cr at Baddi in Himachal Pradesh for setting up a mobile handset manufacturing facility, top company officials stated.
We plan to increase production in phases so as to meet our complete requirement in four years, a media report quoted Narenedra Bansal, managing director of Intex Technologies.
The company intends to have an initial manufacturing capacity of 2.5 lakh handsets. The board of the company has also approved to start a unit for manufacturing tablets, a market that Intex entered late.
We expect to meet at least 25 percent of our sales target of 10 lakh handsets a month by next year, said Bansal. The company has sold 50 lakh mobile phones in a year.
Intex is already operating a unit at Baddi, which manufactures 2 lakh mobile chargers and batteries in a month.
Besides meeting the requirement for Intex products , the facility allows us to scale up and meet the demand of other operators, said Bansal.
Intex which reported a turnover of Rs 135 crore in 2011-12 is expecting a quantum leap jump of reporting a turnover in Rs 800 – 1000 crore in the current financial year.
Bansal said that Intex was a late entrant into the smartphone business and it contributed just 10 percent revenues from the moblile phones market for the company.
Having launched 5 tablets within price range of Rs 4000 to 5000, Intex intends to foray into introducing a SIM based tablet.
Intex also plans to go for a public listing in 2014-14. “Before the public offering, we will infuse private equity into the venture,” said Bansal.
The conglomerate has three manufacturing associate units, two at Jammu and one in Himachal Pradesh.