On November 21, 2017, Comio formally announced the launch of its Make in India initiative, by confirming that the assembly of its three existing models, the C1, C2, and S1 from India. Coming barely a month after it launched into the market, the quick transition to ‘make in India’ is a landmark for Comio, and one that we look forward to build on further by investing soon in our own manufacturing facilities too.
For Comio, being an integrated player in the Indian market has been an absolutely critical part of our plans here. Thus, we are delighted to confirm the roll out of our manufacturing in India. We hope this will also align us with the larger objectives of the government’s ‘Make in India’ initiative. This follows our resounding start in India, with a strong welcome in North India where we launched first.
For Comio, the move to ‘Make in India’ marks a strong commitment to the market, with the extra investment and resources it will entail. For starters, we will go in for assembling in India, through multiple partners followed by our own facility in 2018. We expect to invest Rs.150 crores over the next two years in manufacturing.
We are currently offering three new models in India, in the form of the budget Android smartphones, the C1, C2, and S1. Focused sharply on the mid-segment of phones in the 6K to 10K range, we believe this fastest growing segment will offer us the space to perform with the volumes at which we can ensure high quality and attractive pricing for our customers in India. With our aggressive plans for distribution, especially to smaller cities and towns, the move to make in India will also signal our seriousness and commitment to the Indian market. In fact, building further on this focus, we will also be establishing an R&D centre in India next year.
We look forward to achieving our plans to strengthen the Comio brand presence with a strong network of 30,000 retailers, 800 distributors and 800+ after-sales touch points catering to 500-550 towns. From an extended warranty, to buy back and screen protection offers and more, our offers have helped us accelerate market acceptance much faster than usual.