China based mobile handset maker China Wireless Technologies has officially entered the Indian high-end Smartphone market in partnership with Reliance Communications. This joint venture plans to retail high-end dual-sim handsets in the market under the brand name, ‘Coolpad’. The venture will unveil three Coolpad models initially and will further bring in four models by December.
China Wireless Technologies will invest Rs 400 crore as capital and operating expenditure in the Indian market over the next three years. It expects to clock in a revenue of Rs 800 crore in the next five years.
The company plans to recruit 300 people by the end of 2009 and is expecting to take the count to 1000 by the end of next year. It also has a proposal to start a Research & Development centre in India by the beginning of 2011. The company officials believe that its venture with RCom is in line with its strategy to penetrate overseas markets and take a leadership stance in the global dual-mode market segment.
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