Ambitious Gionee dreams of making $1 billion in India alone next year
Mobile phone manufacturer Gionee has unveiled desire to make at least $1 billion in revenue from the Indian market come 2015 fiscal year.
The Chinese company posted $85 million revenue for the first quarter of 2014 and expects to close the year with at least $500 million generated from the Indian phone market.
“We are expecting 4% yearly market share by the end of this year,” Arvind Vohra, head of Gionee India said, speaking of the country’s smartphone market. “We are expecting Rs 3,000-3,500 crore by end of this (fiscal) year and aim to become a $1-billion company by end of FY16.”
Gionee is currently seeding their smartphones in other countries too. The country are among the market leaders in West Africa’s Nigeria.
The Elife S5.5 made by Gionee is currently the slimmest smartphone in thew world even though an unreleased Gionee Elife S4.8 is about to take the crown as well as title for the lightest smartphone in the world.