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ShareMumbai: Reliance Webstore, a retail arm of the Reliance ADA Group, has signed strategic pact with China's Coolpad Communications to market and distribute latter's dual-mode smartphones in India.
Coolpad Communications is a subsidiary of China Wireless and the agreement marks its foray into the Indian market.
Coolpad will invest over Rs400 crore over the next three years towards the company's capital expenditure plans as also for operational requirements. The funds will be raised through internal accruals and debt.
According to a press note issued here, Coolpad is setting up a dedicated R&D unit in Shenzhen, China, and one more in India to strengthen its relationship with ADAG.
The units will liaise with Reliance Webstore teams across India to seek customer feedback and develop products for the Indian market.
"Given our unique strengths in the dual-mode and 3G segments, we envisage a major upside for Coolpad as Reliance Webstore enters the handset distribution business in the backdrop of India's emerging 3G scenario," China Wireless' India Head, Sami Al-Lawati, said.
The Coolpad smartphones are expected to contribute over 30% of the overall handset sales at 232 Reliance World Stores across 104 cities in India.
