Domestic mobile phone maker Jivi Mobiles expects over three-fold growth in revenue by the end of fiscal 2018-19, mainly on account of foray into 4G VoLTE- enabled smartphone segment.
“Currently, we are selling 5 lakh feature phones per month and 70,000 4G smartphones. We are looking to scale it to 10 lakh feature phones and 5 lakh smartphones per month by end of 2018-19. At the end of 2018-19, we are expecting revenue in the range of Rs 2,400-2,500 crore,” Pankaj Anand, CEO, Jivi Mobiles told PTI.
According to a PTI report: The company expects revenue around Rs 700 crore for the current financial year.
He was speaking at the sidelines of launching a 4G VoLTE (voice over long-term evolution) smartphone Revolution TnT3, blended with feature phone keypad for Rs 3,999.
The company is aiming to sell 20-30 lakh of Revolution TnT3 series phones alone by end of 2018, he told PTI, adding “through this phone we are targeting at 1.3 crore feature phone buyer who are willing to transition to easy navigation feature of smartphone”.
The Revolution TnT3 has 1 GB RAM, 8 GB internal storage, 2300 mAH battery, 5 megapixel rear camera with flash and 2 mp front camera and finger sensor at the back to lock and unlock phone.
“There will be many more models of this phone in coming days. Upgradation in upcoming models will be in terms of storage and camera mainly,” Anand was quoted by PTI as saying.
He said that the company as of now is selling phones offline only, through around 38,000 retailers, which will be scaled up to 60,000 by March next year.
“We will start selling some of the mobile phones exclusively on e-commerce platform from April onward,” Anand told PTI.
Jivi Mobiles is in the process of setting up its second mobile manufacturing plant in Lonavala, which it expects to be operational by April.
“The Lonavala plant will have 10 lakh feature phone and 4 lakh smartphone production capacity per month. It will be operational before April 2018,” Anand was quoted by PTI as saying.
The company already has an assembly unit in Delhi.