China's Coolpad commits to Make in India

MUMBAI, INDIA: With an eye on the burgeoning online marketplace, the Coolpad Group, a developer and provider of integrated solutions for smart phones, mobile data platform systems and value-added business operations in China, is starting India operations.

The company will set up a R&D center and manufacturing plant as part of its commitment to Prime Minister Narendra Modi's Make in India campaign. As a start, it has announced the appointment of Varun Sharma, Former Director, Flipkart; as the Chief Executive Officer.

According to Li Wang, Global Chief Operating Officer, Coolpad Dazen, “India is the fastest growing online smart phone market in the world and we want to be a leader in this market. We are confident that with our patented technological innovations; Coolpad Dazen will become India’s number one smart phone brand in the online space.”

Sharma, added, “The Indian smart phone customer today has lots of choice but is still always looking for great value. We want to bring in a new wave with our patented innovation to disrupt the Indian online smart phone market. We want to build a great Indian Internet company that will focus on creating benchmark devices and a great software ecosystem.”

It must be noted that Chinese internet firm Qihoo 360 Technology recently invested $409 million in Coolpad. Their JV will leverage Coolpad's expertise in smart phone design, manufacturing, supply chain management, and aftermarket services, while benefiting from Qihoo 360's capabilities in Internet security software, mobile apps development and online marketing.