Shyam Telecom to Set Up Mobile Plant

By Pradip Bhatacharya

TMCnet Contributing Editor

 

Hoping to double its revenues to Rs 500 crore in 2008-09, telecom equipment company Shyam (News - Alert) Telecom is planning to set up a mobile manufacturing facility in the Himachal Pradesh section of India in the next two years.

 

With the acquisition, Shyam Telecom expects to significantly reduce manufacturing cost and bolster its global market presence.

 

The company is currently importing GSM handsets and selling it to the distributors.

Shyam has sold one million mobile handsets last year and are expecting to sell 2.5 million this year, according to Shyam Telecom director N Kumbhat. “India is adding over six million new connections every month, so the industry is growing very rapidly and we are planning to tap this opportunity,” he added.