Karbonn Mobiles goes Public by 2016
The third largest smartphone maker in India, Karbonn mobiles is planning to go public by 2016. The company has a lot of trust on its sales of Android devices made with partnership of Google Inc. The company believes this will boost its sales.
The chairman of the company, SudhirHasijar, has stated that he was delaying this move for the past couple of years. This is because he wanted to understand the company’s valuation. He stated that his valuation has increased very much in the past few years.
Hasijar has stated that he is waiting for the launch of the Android One in September. This launch is timed perfectly with India’s shopping season which helps in growing the revenue even more. The company is expecting its revenue to grow to 80 billion Indian Rupees by 2015 March, the year end. A year ago the value is at 45 billion Indian rupees. Hasijar has stated that Google is supporting them which could offer them a very big leap.
At present, Karbonn gets 5-7 percent of its revenue from exports which are mainly to South Asian Markets like Nepal, Bangladesh and Sri Lanka. In June, Google has announced that it would work with three Indian manufacturers to develop a smartphone under $100 for the Indian market.