New Delhi, June 8, 2017: After launching its first series of Smartphones, a Chinese electronics OEM / ODM major, iVOOMi announces its investment of Rs. 250 cr. in order to further strengthen its niche in the Entry level Smartphones segment in the Indian market. The company focuses on strengthening its foothold in the market through strategic alliances with technology and retail giants.
The investment will be planned in two phases. In its foremost phase, the company will be investing in futuristic technologies to bring advanced products at an affordable price & will also focus on setting up its manufacturing capacity in India. The company also plans to invest in order to propel its online retail penetration across Tier – 2, 3, 4 towns in India through a series of strategic association with retail partners.
Mr. Ashwin Bhandari, CEO said, “We are glad to announce our investment plans for the highly competitive Indian market. With the significantly rising penetration of the iVOOMi smartphones, our mission is to establish iVOOMi as the most preferred Smartphones brand for the entry level Smartphone users. And we are predominantly focusing on delivering disruptive features and ultimate user experience to our users at a nominal cost.”
In its second phase of investment which will be in 2018-2019, the brand will focus on setting up R&D capacities, and will also expand the manufacturing capacity within India thereby supporting the Make in India initiative. Marketing activities will also play in imperative role in this phase of investment activity.
60 percent of the total investment will be made towards R&D system in China in order to accelerate an end to end product development for the India market. The company is closely working with technology giants like Qualcomm, MediaTek, Spreadtrum, Intel, Samsung, Galaxycore, OmniVision, Asahi, DragonTail, BnK, in order to develop future-ready products for Smart users across Tier – 2, 3, 4 towns of the country.
By next quarter the company plans to launch an extensive portfolio of Smartphones in India with world-class features.
iVOOMi, holds a wide range of product portfolio spread across 5 categories with over 350 SKUs selling across 30 countries. Apart from Smartphones, the company also plans to introduce 3 new product categories including Smart Devices, Smart Accessories and Personal Care electronics this year in India.
About iVOOMi:
iVOOMi, a Hong Kong based brand of SUNTEX, was founded in 2001, with the presence in Hong Kong, China, Thailand, Philippines, Ethiopia & Middle East. It comprises of more than 350 SKUs, spread over 5 product categories. iVOOMi has its client base spread across 21 nations worldwide.
The brand has its own ODM & OEM, thus making it a major in the international market. Through its venture, iVOOMi also supports the make in India initiative. Another leading point is that they have already tied up with more than 500 service centres in India to support their after sale services.
The Chinese major has 10+ years of experience in the Mobile phone industry and is renowned for manufacturing smart phones with top-quality features at pocket-friendly prices. The company is the most exciting technology, telecommunication and digital services platform that have emerged on the global technology stage.
The firm comprises of an interesting global team with a combination of young and experienced veterans specialized in delivering value for money products and services with speed, efficiency, and innovation.
USP
The core of the multinational iVOOMi platform is to deliver “user-friendly products” engrained with high-quality specifications.
The company’s strengths are its product designs, development, and providing technology at value to the masses.
R&D
Currently, iVOOMi have all the R&D activities done in China, which is owned and managed iVOOMi. They have partnerships spread over Taiwan, Korea, and Japan for different technology requirements. The brand is planning to start their R&D centre in India by 2019.
Product
With a mission to create a product line which are highly advanced in features even in the minimal price range, iVOOMi unleashed “ME” series (Me1 & Me1+) in India in the mid segment smartphone category. These devices are unique in terms of quality of the handset and features. Me1+ comes with the latest Android Software and an advanced battery is one of the key propositions of the products. Unlike other brands in the same segment iVOOMi’s handset are equipped with 3000 mAh battery, comes with the fastest charging methodology which is not prevalent across other brands. At present, iVOOMi have 10 Mn Mobile phones, 4 Mn + smart accessories, and 2 Mn + Personal Care as our manufacturing capacity.