New Delhi, Nov 14 : The Indian mobile accessories market is set to explode owing to the exponential smartphone sales growth and domestic phone maker Intex aims to touch the Rs 100 crore mark in this segment by March 2017 while gearing up to play a key role in the batteries segment, a top company executive has said.
The global mobile phone accessories market is expected to reach $107.3 billion by 2022, according to alliedmarketresearch.com. The major factor that boosts market growth is the increase in adoption of smartphones in urban as well as rural areas.
Industry experts peg the Indian mobile accessories segment at $1 billion, which is set to grow 20-25 per cent year-on-year.
Intex entered the mobile accessories vertical in 2011 and, since then, has been growing rapidly by developing and designing products ranging from batteries, chargers, hands-free devices, cables and power banks, among others.
"Battery is the backbone of the mobile phone industry and since day one, our focus was on battery. Our major share -- almost 50-55 per cent -- comes from batteries," Manish Gupta, Deputy General Manager, Mobile Accessories, at Intex Technologies (India).
Intex also sells batteries for other Indian brands like Micromax, Lava and Karbonn and even for Nokia, Samsung and some Chinese brands.
"Every month, we sell half-a-million batteries for the mobile accessories business in the general trade market. We have a capacity of more than that and, gradually, we are increasing the capacity. We are also planning to make power banks in-house," Gupta noted.
The company reported Rs 670 million in revenue in the financial year 2015-16 -- up from an average growth rate of 90 per cent year-on-year. The significant accessories sale is via batteries and chargers -- 70 per cent of the business value originates in this category.
Intex's growth came from new products, including power banks and accessories such as USB cables, Gupta said, adding that for the mobile accessory as a whole division, the revenue sat at 25 per cent with standard growth rate of 20-25 per cent.
"Northern region is a major contributor to our business. Almost 50 per cent of business comes from the northern region. Southern region will be major focus for us in the next financial year," Gupta told IANS.
Intex is also aiming to launch a separate a smartphone accessory section wherein they already have one product -- MFI cable for iPhones. The company has taken a licence from the Cupertino, San Francisco-based Apple to launch the cable which is available online as well as in retail stores.
According to Gupta, power banks is another big growth area. In the last financial year, Intex sold 130,000 power banks and have already sold 750,000 power banks this year.
"Diwali was excellent for us. At 'Flipkart Big Billion Day', we sold 100,000 power banks. With ?Snapdeal Unbox', we sold 25,000 power banks and in general trade, we sold 15,000-16,000 power banks," Gupta said.
"That is almost 34 per cent share in the power banks segment we garnered this festive season. We were number one in the 'Flipkart Big Billion Day'," Gupta added.
The company sold 400,000 units of power banks in the months of September and October alone. The sale of power banks has gone up by more than 100 per cent as compared to the same time last year.
"There are almost 1,000 channel partners with us for accessories business pan-India," the executive said.
The company will soon launch another innovative product -- "power inverter" -- that can charge laptops and two devices simultaneously. The product will be available in the market before March 2017.
Hyderabad, Sep 22: Ganesh pandals have become the centers of political activity as leaders of different parties come to colonies and establish bonds with local leaders. While the TRS has an edge i ..Written by : IANS | 06:20 PM
Hyderabad, Sep 22: The Congress leaders are planning to access their senior leader and actor Chiranjeevi to ask him to campaign during Telangana elections. The Telangana Congress leaders believe t ..Written by : IANS | 06:11 PM
Pakistan beat Afghanistan by three wickets here at Sheikh Zayed Stadium in the ongoing Asia Cup super 4 matches and themselves prepare for the match against India on Sunday. In this regard, Chasin ..Written by : IANS | 02:47 PM
Police officials on Friday issued an arrest warrant against former Bihar Minister Manju Verma's husband in an arms case related to a raid connected to the Muzaffarpur home rape horror. An FIR was r ..Written by : IANS | 07:20 PM
Hyderabad, April 12: Nagarjuna's song "Ninnu Roddu Meeda Chusnadi Laggayithu" one of the most popular songs in 1990's. The Song has got a tremendous response in that time. The SOng was super hit film ..Written by : IANS | 05:04 PM
Hyderabad, Apr 10: Preparations related to NTR Rama Rao biopic are ongoing. Bala Krishna is playing the role of NT Rama Rao while the rest of the cast has to be finalized. The selection process for th ..Written by : IANS | 02:13 PM
Hyderabad, Apr 03: Power star Pawan Kalyan has congratulated on the hit of Rangasthalam team here on today. Pawan spoke to Charan after watching "Rangasthalam" on the special screen, he told that h ..Written by : IANS | 04:47 PM
Hyderabad, Mar 26: The Tollywood Gorgeous actress Anushka Shetty had a fabulous start to 2018 with the solid success of Bhaagamathie. Although there have been several rumors on her future projects ..Written by : IANS | 03:04 PM
Hyderabad, Sep 22: An article titled 'Involve ..
Police officials on Friday issued an arrest w ..
Ahead of elections, The Congress Party on Wed ..
The Union Cabinet on Wednesday approved an or ..
In a horrifying incident a Class 10 student f ..
Prime Minister Narendra Modi turns 68 here on ..
After the Congress had demanded the Election ..
New Delhi: Goa Chief Minister Manohar Parrika ..
Haryana: In a gruesome incident, A 19-year-ol ..
Hyderabad: In order to allow smooth election ..
China: In a significant development, China ha ..
Tokyo: In a natural disaster incident, Two pe ..
New York: The giant e-commerce company, Amazo ..
OnePlus 6T is supposed to be the successor of ..
It's Teachers' Day in India and in this rega ..
Justice Tahira Safdar was sworn in as the fir ..
The United States has extended the temporary ..
Google will contribute $1 million (nearly Rs. ..
Google on Tuesday rebranded its UPI-based pay ..
Japan, Aug 24: In a shocking development, A J ..
India smashed out another comprehensive perfo ..
Pakistan beat Afghanistan by three wickets he ..
Is Indian daring Captain Virat Kohli making f ..
India stand in Captain Rohit Sharma won the t ..
Afghanistan All Rounder Rashid Khan celebrate ..
After the all rounder Hardik Pandya injured, ..
India has outclassed Pakistan to win the Asia ..
Pakistan won the toss and opted to bat agains ..
Team India has won the first match in thier A ..
Hong Kong won the toss and elected to field a ..
San Fransisco: The Giant Smartphone manufactu ..
Are you passionate about cooking, then grab t ..
New Delhi, Sep 03: In a good news for smartph ..
New Delhi, Aug 22: Xiaomi is one of the most ..
San Francisco, Aug 21: In a shocking news, Am ..
Ingredients: 1/2 Cup Penne Pasta 1 Tbsp ..
New Delhi, Aug 16: In a good news, Jio Phone ..
New Delhi, Aug 15: In a good news for Jio use ..
New Delhi, Aug 13: We all knew that, the fort ..
Hyderabad, Aug 13: Here is the good news for ..