Home-grown mobile maker Jivi Mobiles has forayed into the smartphone space with initial offerings in the price range of Rs 5,000 and Rs 7,000.
It plans to invest Rs 100 crore to build its manufacturing facility for smartphones. Until now, the company has been making feature phones only.
Presently, Jivi assembles feature phones in Delhi. The smartphone manufacturing facility is expected to become operational in six months’ time. Banking on a 10-15% month-to-month growth, Jivi has targeted to double its turnover to Rs 650-700 crore this fiscal, from Rs 350 crore in 2017-18.
The company is focusing on tier 2 and 3 cities to achieve its sales growth target. It has a strong presence across northern and eastern parts of the country and is now expanding to southern and western regions.