Coolpad to Invest Rs. 30 Crores in Indian Smartphone Manufacturing

The sub 10K smartphone, Coolpad Dazen Note 3, has hitched the mark with the leaky news to invest Rs. 30 Crores in the Indian manufacturing plant to produce the smartphone and to invest in the research and development (R&D) and design. The smartphone launched recently has been priced with an amount of Rs. 8,999.

With the expansion, the company has decided to partner Videocon for its smartphone manufacturing in the country and will roll out nearly half a million devices from its facility in Maharashtra. Coolpad vice president Johnson Luo said, “The first Made-in-India Coolpad phone will be available in the first quarter of 2016. India is very crucial market for Coolpad and we believe we will learn a lot from our investments here. We are here to bring affordable smartphones to the users”.

The smartphone maker which makes over 34 million smartphones every year and generates a revenue of $3 billion, roughly Rs. 19,430 crores revenue, has earlier launched a Dazen series set in India under the partnership terms of Coolpad with Chinese search engine Qihoo 360. most fascinatingly, Luo said, "Dazen is no longer a part of Coolpad and has been separated due to a change in investor relations". It has been alluded from the statement and by Luo that Coolpad's 18 percent stake is also owned by Chinese giant LeTV which is also thinking of launching its business in India.

After the launch of its Dazen series smartphone to feature for the first time the Dual-SIM standby handset under the brand name, the company will now continue to sell the device in India with the same name brand. It is betting on the 4G revolution, Indian local language support and customizations for India to push sales of its devices. With all this, the company has made Amazon to be the exclusive partner to sell the Coolpad Note 3, after the launch.