NEW DELHI: Telecom equipment provider Voxtel, a part of the U.K.’s telecom giant BEIL, on Wednesday unfolded its plan to invest Rs. 19.80 crore to expand its network in India by 2008.
The announcement about the investment plan came at the launch of the company’s telecom and personal navigation products such as digital cordless phones, voice over internet protocol phones (VoIP) and GPS personal navigation devices (PND). The company is targeting the $18 billion Indian telecom equipment market.
The PND devices, which will have India map integrated in it, would enable a GPS receiver to determine its location, speed and direction. They are priced between Rs. 14,995 and Rs. 19,995.
“Voxtel plans to spend $5 million (Rs. 19.80 crore) in its brand building and expansion of its network to appoint 75 distributors and 7,000 dealers by the end of 2008,” Voxtel Telecom International Sales Director, Sat Murthi, revealed during interaction with media persons.
Company’s Chief Operating Officer, Dino Lalvani, said, “India is emerging as a dynamic market for advanced technology products, especially in the backdrop of robust growth in the telecom, retail and automobile sector and we are targeting sales revenue of over $100 million by the end of 2008.”
He said the company was also planning to expand the research and development centre in Bangalore to cater to the global requirement of software services and research work. The company had already entered into strategic tie-ups with retailers such as Reliance, Spencer, Hypercity, Cromo and others. It has also tied up with telecom service provider MTNL.