Intex targets Rs 3,500 cr revenue in FY15

New Delhi: IT hardware and electronic products company Intex Technologies is targetting a turnover of Rs 3,500 crore in 2014-15 on the back of growing mobile handset sales.

"We have achieved a turnover of Rs 2,000 crore in FY13-14 with a growth rate of 100 percent. We expect the same growth this year also and aims for a revenue of Rs 3,500 crore in FY 14-15," Intex Technologies Business Head (Mobile) Sanjay Kumar Kalirona said.

"The mobile vertical alone has grown by more than 300 percent, accounting for 65 percent of the company's overall annual turnover in FY13-14," he said.

The company plans to launch around 30 new models, including feature and smartphones, during the current fiscal.

It sold around 11.5 million devices during FY 13-14 and aims to increase the number to 16 million this year.

"We are looking at selling 3 million smartphones and 13 million feature phones this year," Kalirona said.

The company is offering feature phones in price range of Rs 1,000 to Rs 3,000 and smartphones from Rs 3,000 to Rs 20,000.

"Of all products within the mobile division, smartphones have accounted for a major portion of revenues for the vertical," he said.

According to IDC, smartphone sales in the country grew to over 44 million in 2013. Overall phone shipments in the country rose by 18 percent to about 257 million units in 2013 from 218 million units in the previous year.

Intex is undertaking the process to start assembling of phones in India and has done testing for one model also. Right now the three manufacturing units of the company are used for the rollout of IT products and mobile accessories.

In FY14-15, Intex plans to invest Rs 100 crore in its marketing operations.