MobileNXT Teleservices Pvt Ltd, a mobile retail chain that offers a one stop-solution for all mobile telephony needs, was launched here on Monday, targeting a business turnover of Rs 380 crore in three years.
BANGALORE: MobileNXT Teleservices Pvt Ltd, a mobile retail chain that offers a one stop-solution for all mobile telephony needs, was launched here on Monday, targeting a business turnover of Rs 380 crore in three years.
MobileNXT, said to be the country's first mobile retail chain, offers mobile products, services and value addition through mobile stores, the first of which will be launched in Gurgaon within a week, its senior executives told reporters.
In the first year, 31 stores will be opened, followed by 97 in the second and 170 in the third year, MobileNXT founder and CEO Vijay Menon said. "A Rs 380 crore turnover is our business plan for the third year."
The concept stores will offer a complete range of handsets from top five brands, 100 accessories, after sales services, value added services, data transfer facilities and an exchange programme. They will also have kiosks from which music, ringtones and wallpapers can be downloaded, he said.
Menon said the primary focus of the Bangalore headquartered MobileNXT will be on Tier-II and Tier-III cities, which are underserved and are witnessing a boom in the mobile industry, and the secondary focus on metros.
Romy Juneja, Founder and COO, MobileNXT, said the company is being backed by a consortium of investors with $5 million investment.
The mobile industry in India had seen a buoyant growth in the last four years with 47 per cent growth in 2005 to reach 75.3 million.
Menon said the chain store model in telecom business is proven globally and "We want to be the first mover and take advantage of the boom". The store in Bangalore would be opened in August after ones in Mangalore and Mysore in May.
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