Hyundai Mobile, cellular phone manufacturing and marketing wing of the South Korea-headquartered Hyundai Corp said on Tuesday that the group was getting ready to sell mobile phones in India – eyeing at a slice of the world’s fastest growing mobile phone market.
Hyundai India Telecom (HIT Ltd) has been formally launched in Mumbai. The company plans to offer an array of GSM and CDMA mobile phones and intends to focus on the PDA and Smart mobile phones. It also plans to introduce the latest range of other synergistic 3G Mobiles products from the Korean stable. The approximate time period set for the launch is around 90days. Said Vijay R Singh, Vice Chairman and Managing Director, Hyundai India Telecom, “We are giving ourselves around 90 days for a smooth launch and we are setting up an extensive distribution-cum-service network which would spin across 100 distributors and 70 service centres across 30 cities. There isn’t any specific TG that we are looking at since we have both high-end and low-end products in our offering casket. There are phones at various price points, and we are looking at tapping the rural market in a big way in addition to urban and semi-urban areas. In our first year of launch, we are aiming at selling around one million handsets.”
How big is the rural market for Hyundai Mobile? “The rural market is growing at the rate of 20-25 per cent, at least as far as the telecom sector is concerned. Areas such as Bihar, Jammu & Kashmir and Himachal have been seeing an increase in spending capacity, and a need for being connected is being felt amongst the people there,” Singh responded.
Hyundai Mobile will have a rural skew of around 24 per cent, while our skew towards urban and semi-urban areas would be around 75 per cent. As Singh put it, “The telecom scene in India is very competitive, with Nokia commanding the giant share of the handsets market. But we have been competing with the best of the best across the globe, which is why; we feel that a significant portion of the market share would be apportioned to us.”
However, the Korean giant is yet to decide on setting up a manufacturing outfit in India. “We are going to operate through the regular channels and existent retail outlets. In time, with enhanced market share, we would look at setting up manufacturing facilities in India. As of now, there are no plans of the same,” he said.
HW Woo, General Manager, Hyundai Corp Korea, stated, “Hyundai Mobile’s vision is to create a premium brand of mobile phones, comparable to the best in the world and to give top quality and stable products to its customers. We aim to garner 30 per cent of the global market share in the next five years.”
Suniel Shetty, Chief Mentor and Director, Hyundai India Telecom, said, “Hyundai Mobiles is the best in the world, in terms of offering consumers the latest technology which is ahead of its contemporaries by a generation. It will be my endeavour to ensure that Hyundai Mobiles as a brand is hugely successful in India and I share immense pride in its vision and objectives that our company Hyundai India Telecom has set to achieve with a clear long-term strategy. Being a globe trotter and having experienced the best of technology and services, I am confident of bringing in value into the company in order to provide the same to the discerning Indian consumer.”
Hyundai Telecom would be pumping in extensive marketing and brand building efforts for the product. The group plans advertising, outdoor, below the line initiatives, select events and promotions to provide impetus to the overall marketing efforts.