Companies

Okaya Power enters mobile battery segment

POTENTIAL MARKET: Rajesh Gupta (LEFT), co-founder and Director, OP Gupta, Chairman, Okaya Power, at apress conference in New Delhi on Wednesday.   | Photo Credit: V_V_Krishnan

Okaya Power Group (OPG) on Wednesday announced its foray into the branded mobile phone battery segment, focussing on the potential of replacement mobile battery market. The company launched its ‘Joos' brand of lithium mobile phone batteries, priced between Rs. 295 and Rs. 995, that will be compatible with all the popular branded handsets and smartphones in the market.

Okaya Power produces inverter batteries, VRLA batteries, 2 Volt cells and solar batteries at its facility at Baddi, Himachal Pradesh.

Okaya Infocom, Okaya Energy System, Microtek International and Action Group are the group companies.

“After extensive research and market survey, we realised a huge demand and supply gap existing in the market for reliable mobile phone batteries. To address this gap, we have ventured into the branded mobile phone battery business,” Okaya Power Co-founder and Director Rajesh Gupta told journalists here.

Stating that the Rs. 600-crore group was targeting a turnover of Rs. 150 crore from this category by the end of the current fiscal, Mr. Gupta said the company had invested around Rs. 120 crore in setting up a plant in Himachal Pradesh with a total installed capacity of 40-lakh units a month. To push sales, the company will expand its distribution network to one lakh dealers within a year.

“We are also looking at extending the ‘Joos' brand by diversifying into laptop batteries, camcorders and digital cameras within this fiscal. We are already working on bringing out laptop batteries,” Mr. Gupta added.

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Printable version | Mar 7, 2021 9:12:22 AM | https://www.thehindu.com/business/companies/Okaya-Power-enters-mobile-battery-segment/article16196517.ece

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