China's Yulong to sign distribution deal with Reliance World
China's largest dual mode handset maker Yulong is in discussion with Reliance World, the retail venture of Reliance ADA Group, for a distribution deal expected to be worth Rs 600 crore.
By PTI |
NEW DELHI: China's largest dual mode handset maker Yulong is in discussion with Reliance World, the retail venture of Reliance ADA Group, for a distribution deal expected to be worth Rs 600 crore.
The deal with the Hong Kong-listed China Wireless Technologies subsidiary is expected to be signed in the first week of October.
When contacted, a Reliance World spokesperson declined to comment on the financial size of the deal but confirmed that it is in discussion with Yulong.
"We are currently exploring business opportunity with Yulong to retail the company's dual-mode handsets in India. We are in advanced stages of finalizing the agreement," the spokesperson said.
The exclusive deal would make Reliance World the sole distributor and retailer of Yulong's Coolpad range of dual-mode handsets in the country and would mark the formal entry of the Chinese handset maker in India.
Reliance World has retail operations across 104 Indian cities and handset sales is one of the major revenue drivers.
Initially, the company is planning to roll out five models of CoolPAD dual-mode handsets in India, which would be exclusively distributed through Reliance World.
The Indian smartphone market, currently comprising nearly four per cent of the total mobile phones sales in the country, is expected to cross 20 million handsets by 2010.
The deal with the Hong Kong-listed China Wireless Technologies subsidiary is expected to be signed in the first week of October.
When contacted, a Reliance World spokesperson declined to comment on the financial size of the deal but confirmed that it is in discussion with Yulong.
"We are currently exploring business opportunity with Yulong to retail the company's dual-mode handsets in India. We are in advanced stages of finalizing the agreement," the spokesperson said.
The exclusive deal would make Reliance World the sole distributor and retailer of Yulong's Coolpad range of dual-mode handsets in the country and would mark the formal entry of the Chinese handset maker in India.
Reliance World has retail operations across 104 Indian cities and handset sales is one of the major revenue drivers.
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Initially, the company is planning to roll out five models of CoolPAD dual-mode handsets in India, which would be exclusively distributed through Reliance World.
The Indian smartphone market, currently comprising nearly four per cent of the total mobile phones sales in the country, is expected to cross 20 million handsets by 2010.
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