Mobile device maker Karbonn today said it will invest Rs 445 crore in brand promotion and product development in the next two years,and expects revenues to touch Rs 3,500 crore by 2013-14.
“We are extending our portfolio to target customers of high socio-economic class. We will continue as ‘value for money’ brand. Our estimate is that we should have Rs 2,500 crore in revenues this fiscal and Rs 3,500 crore in FY’14,” Karbonn Mobiles MD Pradeep Jain told reporters here.
The company will invest Rs 195 crore in product development and marketing expenses during the ongoing financial year and Rs 250 crore in next financial year.
“Last year we invested Rs 150 crore which has shown the result. We grew faster than other Indian brands. We are expanding service centres. Presently,there are over 650 service centres and by FY’14 we will have 1,000 centres,” Karbonn Mobile Executive Director Shashin Devsare said.
The company is looking to 15 per cent market share by end of FY’14 from 6 per cent it has in FY’12.
The company today launched its first tablet on Google’ Android platform with 1.2 Ghz processor for Rs 6,990 and unveiled three new smartphones on Google Android’s Gingerbread platform in the price range of Rs 5,790 to Rs 9,490.
Internet on the tablet unveiled by the company can be operated using wi-fi service or 3G dongles.
The company’s high-end smartphone has 1 Ghz processor,5 megpixel camera and a front camera to support video calling facility.
“We are planning to launch four new smartphone and three new tablets in next three months. Karbonn will be first Indian company to launch smartphone of Google’s Icecream Sandwich platform which is next version of Android after Gingerbread,” Devsare said.
The company will launch 9.7 inch screen size tablet in September on Google’s Jelly Bean platform.
In the smart device range,Karbonn will provide push mail service and instant messenger of its own.
“These services will be free for first year. We have tied up with foreign vendor for this who has customised this application to suit our customer’s need,” Devsare said.