Electrical goods and consumer electronics maker Arise India is looking to tap the fast growing mobile handset and smart TV segments as part of plans to grow revenue by over 20 per cent this fiscal to Rs 1,550 crore, according to a PTI report.
“We would now focus on LED and mobile handset business as it has a promising future. This fiscal, we would have over Rs 200 crore business from this segment by the end of this year,” Arise India Managing Director Avinash Jain told PTI. The firm had a revenue of Rs 1,258 crore last fiscal and is setting up a mobile handset manufacturing unit.
As part of strategy to expand in the two segments, Jain said: “We have set up LED TV manufacturing unit at Kala Amb in Himachal Pradesh with an investment of Rs 20 crore and are also in the process of setting up a unit for mobile handset manufacturing.”
The company sells low cost mobile handsets ranging between Rs 800 and Rs 5,550.
Jain said Arise is also expecting robust growth in its LED TV business with Android Jellybean 4.2 operating system which allows consumers to surf Internet and use Android-based applications on the TV.
Presently, the company imports panels assembles at Kala Amb plant.
On retail network expansion, Jain said the company plans to add 1,000 shop-in-shop outlets under its ‘Arise One’ concept by the end of this fiscal.
The company has plans to increase the number of ‘Arise One’ outlets three-folds to 3,000 byMarch 31, 2016, focusing on tier III and IV places.
“We have presently 57 ‘Arise One’ running stores and have booked for over 300 and are in process,” Jain said.
Commenting on the company’s sales growth, he said: “This fiscal we would touch Rs 1,550 crore. We would have a production of around Rs 1,100 crore, which is around 70 per cent of our total revenue.”
The company manufactures a range of items, including pumps, inverters, batteries, LED TVs and home appliances such as geysers and mixer grinders.
Arise, which was the title sponsor of the Asia Cup held this year and sponsored King XI Punjab, has also increased its spending on marketing and promotional activities.
“This fiscal we have a target to spend around Rs 35 crore on marketing as against Rs 25 crore last fiscal,” he added.