MVL to invest $83 Million on cell phone manufacturing

MVL to invest $83 Million on cell phone manufacturing

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New Delhi: MVL group, a property developer and consumer electronics maker plans to invest $83 Million to manufacture and sell mobile handsets in the country under its own brand. To begin with, MVL will source handsets from China's Foxconn. But it plans to invest around Rs $83 Million to set up a manufacturing plant and a research unit besides a service centre in Gurgaon, reports Sanjeev Sinha from The Economic Times.

"Our handsets would be competitively priced," said Prem Adip Rishi, chairman, MVL group. The company will create its sales network in the top 20 cities of the country within the first quarter of launching operations and plans to extend reach to tier II & III towns thereafter.

It would join a host of local handset makers who have created strong mass-market brands of their own in the domestic market. The privately owned group has formed a separate entity, MVL Telecom, to spearhead its foray into handsets business and plans to roll out its products soon.

MVL plans to sell products priced in the range of Rs 1,400 to Rs 5,000. MVL Telecom will be the first Indian mobile handset company to launch the push mail feature through MVL Connect that would do away with the fixed cost for data charges. The customer would need to pay only the service provider's data downloading charges.

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