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Spice Group, Chinese firm launch co-branded handsets

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Joining them: B.K. Modi, Global Chairman, Spice Group, at
the launch of Huawei Ascend Y 100 smartphone in the
Capital on Thursday. — Ramesh Sharma
Joining them: B.K. Modi, Global Chairman, Spice Group, at the launch of Huawei Ascend Y 100 smartphone in the Capital on Thursday. — Ramesh Sharma

Partners Huawei to launch co-branded products

Spice Group has set a target to sell 10 million handsets globally by June 2013 including 7.5 million 2G handsets. Currently, the company sells around half a million handsets every month.

Announcing its partnership with the Chinese company Huawei, Spice said it will launch 7-10 co-branded handsets soon. The company expects to sell one million handsets under ‘S Huawei’ brand this fiscal.

Under the partnership, Huawei will provide back-end support such as research and development and in return would leverage Spice’s stores. On marketing and branding, both companies would spend equal amounts, Bhupendra Kumar Modi, Global Chairman, Spice Group, said. Spice has already launched 3G smartphone Ascend Y 100 as the first product under the partnership priced at Rs 5,990.

The company would launch products priced up to Rs 30,000 in the near future, he said. The company has also tied up with Google for Android handsets recently and targets selling around 1.5 million 2G WiFi and 3G handsets under that partnership.

“These partnerships are key drivers to expand our global footprints. Today, more than 50 per cent of the revenue comes from the international market. In Indonesia, we have crossed $1-billion revenue as of June 30,” Modi said.

As announced earlier, he said the company is on track to invest $300 million in expansion, R & D and marketing and branding. It has already spent $100 million and the rest will be spent by the end of next fiscal.

The company has 1,250 stores in retail and distribution where it is present, including India, Singapore, Indonesia, Malaysia, Thailand and parts of Africa (such as Kenya), which would go up to 5,000 by end-2015, he said.

ronendrasingh.s@thehindu.co.in

(This article was published on October 18, 2012)
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Budget 2015 highlights

  • Following are the highlights of the Union Budget 2015-16 presented by Finance Minister Arun Jaitley in Parliament today:
  • No change in personal Income Tax * Health Insurance Premium deduction hiked from Rs 15,000 to Rs 25,000; for senior citizens to Rs 30,000
  • Transport allowance exemption hiked to Rs 1,600, from Rs 800 per month
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  • Rs 50,000 deduction for contribution to New Pension Scheme
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  • Retail inflation close to 5% by March, room for monetary policy easing
  • To achieve fiscal deficit of 3% of GDP by 2017—18
  • Fiscal Deficit target 3.9% in 2015—16, 3.5% in 2016—17
  • Revenue Deficit to be 2.8% in 2015—16
  • Current Account Deficit for 2014—15 to be below 1.3% of GDP
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