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Fly Mobile eyes Rs 500 crore revenue by 2009

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CIOL Bureau
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NEW DELHI, INDIA: UK based Meridian Telecom Plc. under the brand name Fly Mobile is targeting Rs. 500 crore revenue from the Indian handset market by March 2009.

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Rajiv Khanna, chief executive officer, Meridian Mobile India said that the company is betting high on the Indian handset industry. “We are targeting revenue of Rs 150 crore in this fiscal ending in March 2008. We are optimistic of the Indian market which is adding more than 7-8 million new wireless users per month,” Khanna said.

He said that in the last two years of its presence in the Indian market, the company has launched 22 new handset models from the initial two mobile handset models. “We are planning to launch some more models by the year end. This will increase the number of models close to 35. We have strategically positioned a series of branded designer mobile phones in the next quarters. This will further strengthen our position in high quality and stylish products,” Khanna said.

He said that Fly mobiles are available in 2,000 mobile stores across the country and which would be increase to 8,000 by year-end. “We are planning to expand our reach to 145 towns in this fiscal,” he said.

Commenting on the average revenue, Khanna said that Meridian currently has the highest average selling price in the industry. The company imports mobile handsets from Korea for the Indian market.

Meridian Mobile Pvt. Ltd. is a 100 per cent subsidiary of Meridian Telecom Plc. has entered the mobile handset market in India in 2005 under the brand name Fly Mobile.

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