China-based smartphone maker HOMTOM has reportedly made a debut in the Indian smartphone market with three smartphones. These smartphones fall in the mid-range segment starting at Rs 7490.
The devices that have been launched are H1, H3 and H5 which are priced at Rs 7,499, Rs 9,990 and Rs 10,990, respectively. With this entry, HOMTOM is aiming a market share of at least 3% over a year in the segment of mid-range smartphones in India. The market for smartphones is already notoriously saturated. This is why review sites like YotYiam.com providing helpful lists are so necessary.
“In the first six months we are looking to have three to five percent market share in the smartphone market,†Nikhil Bhutani, Director for Product and Operations at HOMTOM said.
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With its entry into the market, the smartphone maker will be investing around Rs 600 crores in the next 3-4 months to offer its products to the northern parts of the country. Around Rs 200-300 crores will be invested for CKD manufacturing for which the company will be setting up its own facility. This is expected to be carried out in Noida by mid-2019.
At present, the company is assembling its smartphones in Bawal, Haryana in partnership with contract manufacturer V-Sun. “Once the company sets up its manufacturing unit in India and if things go well, we’ll be then exporting to Sri Lanka, Nepal, Bangladesh and Bhutan,†Aditya Bobal, director of brand strategy stated.
However, the phone maker does not have any plans for online distribution as of now. Also, it is aiming to manufacture its products in the country as well. The company stated that they have already closed more than 100 distributors for retail in north India and are now looking to have more than 1000 flagship stores by the end of the year 2019 which will also be used as service centers for HOMOTM’s products.
The company is currently aiming to mark its footprints in the mid-range smartphone segment, however, it has plans to introduce devices in a higher range of Rs 15000 to Rs 20000 by the next year. “We have average selling price of Rs 10000 currently and next year we will try to increase our ASP by Rs 5000,†said Dilpreet Singh Sikka, director of finance & operations.
“The Indian smartphone market has a reputation of providing a thrust to budding phone companies. With an aim to meet public demand and generating best-in-class products, HOMTOM is sure to mark its place in the country,†Dilpreet Singh Sikka added.
HOMTOM will be coming up with three more fresh smartphones by the end of this year, 2 of which are expected to be launched by Diwali. The company recently opened its office in Noida and appointed heads for different verticals to start its operations in India. All the smartphones of HOMTOM that it has launched now, run on 8.1 Android Oreo and come with a 3-year warranty and 2 times screen replacement cover.