Brightstar India estimates 60% growth in 2017

By: | Published: April 6, 2017 1:05 PM

Leading mobile services company Brightstar, the largest global subsidiary of Japan-based SoftBank Group Corp, on Thursday said its business is projected to grow at more than 60 per cent in 2017.

The company said some of its new offerings for 2017-18 will be financial services like device financing, future price commitment and gadget insurance, etc. (Reuters)

Leading mobile services company Brightstar, the largest global subsidiary of Japan-based SoftBank Group Corp, on Thursday said its business is projected to grow at more than 60 per cent in 2017. Brightstar entered the Indian market after acquiring a majority stake in Beetel Teletech in 2014 and, since then, has seen 300 per cent growth. “India is one of the most promising countries among the 100 countries we operate in. We will continue to invest across businesses, systems and in people to win in this market,” said Jaymin B. Patel, Brightstar’s Global President and CEO, in a statement. The company said some of its new offerings for 2017-18 will be financial services like device financing, future price commitment and gadget insurance, etc.

The company aims to enter the surveillance market as it is estimated to be worth $300 million by 2020, with a projected growth of 43 per cent over the next three years. “2017 is an inflexion point for the Indian telecom and IT industries. To capitalise on this change, Brightstar has made a shift from ‘selling products’ to ‘providing solutions’ for its end customers across retail, online, enterprise and networking,” added Deval Parikh, CEO Brightstar India.

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In nNetwork solutions, the company will focus on the mid-market segment (SMB) and access network solutions to increase data penetration affordably in tier 2 and tier 3 cities. Brightstar retains the Beetel landline phone product range which continues to dominate the segment with above 75 percent market share. The company now aims to take this range to various emerging markets soon.

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