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Coolpad to invest Rs 1,950cr in mobile phone biz in India

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APPChinese mobile devices maker Coolpad announced investment of around Rs 1,950 crore to manufacture and sell low cost handsets in India.

“We have earmarked an investment of about Rs 1,950 crore till March, 2017 in India business,” Coolpad Group Chief Financial Officer Jiang Chao said.

The company is also planning to use the investment to subsidise handset price.

Coolpad India CEO Syed Tajuddin said, “We will launch one new product every quarter and aim to sell half a million units per quarter.”

According to report, the company will partner with Videocon Industries to make its mobile phones in India. Also, it has reportedly partnered with HCL Care for after sales service.

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