Intex eyes Rs 100 cr from handsets exports this fiscal

MUMBAI, Sept 25:  Domestic mobile handset maker Intex will sharpen focus on overseas market and is eyeing manifold rise in revenue to Rs 100 crore from exports this fiscal, a senior official has said.
“We were not doing international business till December last year,” Intex Director and Chief Financial  Officer Rajeev Jain said.
“Today we are exporting 40,000 mobiles from India per month and we expect it to be 1,00,000 per month by December this year. International business will get Rs 100 crore turnover this year,” he said.
The company has presence in Nepal, Sri Lanka, Bangladesh, Vietnam, Myanmar, Spain and had clocked around Rs 7-8 crore from exports last year.
The Delhi-based company is evaluating to expand its presence to Russia, Western Africa and Scandinavian countries.
“We are also exploring Europe but it is a competitive market where you have to establish your quality standards, and we are working on that,” he added.
A strong player in the sub-Rs 5,000 and sub-Rs 10,000 handset category, Intex sells 22 lakh pieces a month in the country and according to an IDC Report, had a 7.1 per cent market share in the smartphone segment as of June 30, 2016.
The company is also targeting the tier II and tier III cities in the domestic market to drive its sales.
“We are going into the rural market and are trying to make an impact there. The focus is more on rural. The disposable income is increasing in tier tier II and tier III cities.
“Once the connectivity improves, the infrastructure improves, power supply improves, mobile phones and consumer durable goods will get deeper into the smaller towns,” he said, adding that there has been a major emphasis to open franchisee-operated experience centres Intex smart world in tier II and tier III cities.
Intex is setting up a Rs 100-crore facility in Greater Noida and the first phase is likely to be commissioned by December.
The company also plans to expand its portfolio by launching air purifiers this year and air conditioners next year.
The privately held company had reported a turnover of over Rs 6,200 crore last fiscal, with consumer durables accounting for Rs 900 crore and Jain expects it to grow at a faster clip of 60 per cent to touch Rs 1,500 crore this year. (AGENCIES)