Karbonn will be investing Rs 445 crore towards brand promotion and product development in the coming two years. By this investment, it aims to rake in revenues to the tune of Rs 3,500 crore by 2013-14.
"We are extending our portfolio to target customers of high socio-economic class. We will continue as 'value for money' brand. Our estimate is that we should have Rs 2,500 crore in revenues this fiscal and Rs 3,500 crore in FY'14," said Pradeep Jain, MD, Karbonn Mobiles.
The company will invest Rs 195 crore in product development and marketing expenses during the ongoing financial year and Rs 250 crore in next financial year.
The company is looking to 15 per cent market share by end of FY'14 from the current six per cent.