Munoth group, a business house with interests in telecom
and financial services and the G’ Five group, a top mobile handset company,
announced their new joint venture in India.
The new joint venture, Munoth G’ Five Telecom will operate
across three core areas in the telecom business in India as well as in
international markets. The focus areas include handsets and smart communication
device, VAS services and mobile virtual network operator (MVNO) business.
With demand pegged at over 200 million handsets the
Indian telecom market presents huge opportunities matching global scales in
terms of numbers, technology and services.
Indians are adapting to smart phones and tablets as their
preferred communication device and with the advent of 3 G services.
This venture brings in the robust product development
expertise of G’ Five group and will leverage the decade long Telecom
distribution experience of the Munoth group across geographies; we are in the
right place, at the right time and with the right partnerships. MGTL is all set
to shift the goal post and create new milestone and will be a force to reckon
with in its category,” said Vikas Munoth, managing director of Munoth G’ Five
Telecom.
With the clear mandate and focus in the mid and high end
consumers, we will be able to bring in world-class products and services to the
market. India and South Asian countries represent some of the fastest growing
markets in the telecom sector and our experience in global markets will help
establish a new emerging telecom brand in these key markets,” said Winston
Zhang, chairman, Munoth G’ Five Telecom.
MGTL will come out with a wide range of smart touch
phones and tablets for the Indian market. MGTL will soon begin operations
across 30 countries globally starting out with Bangladesh, Sri Lanka, Nepal and
Australia.
In the second phase, MGTL will enter the VAS category
which is pegged at over Rs 15,600 crore.
This JV will also actively look at backward integration
in the near future with an assembly / manufacturing line in India.
MGTL will also look at forward integration into the
telecom space by entering the MVNO category as and when the Government of India
allows the MVNO license.
With clear plans across the telecom business value chain,
MGTL will marry the typical Indian entrepreneur style with matching Chinese scale
and size of operations to create a global telecom venture.
By Telecomlead.com Team
editor@telecomlead.com
