Handset maker Intex sees a sharp dip in August sales

NEW DELHI: Intex, among India's top five home-bred handset makers, is believed to have recorded a sharp Rs 70-80 crore sequential dip in sales in August, people familiar with the matter said, who added that the spate of exits at the company continues unabated.

Intex's handset sales went down Rs 70-80 crore in August, as compared to sales in July, a company insider with access to internal information said.

Intex typically reports Rs 300-325 crore sales in a month. In an email response, Rajeev Jain, chief financial officer at Intex, agreed that the company's performance had suffered.

"In light of new competition and market realignment, we agree that our sales for August are down, but we hope that once our restructuring process gets over, our figures will be back on track," he said.

The company, which is diversifying into consumer durables aggressively, is witnessing another round of highand mid-level exits that include executives recently hired by the company for the mobile business as part of a decentralisation strategy.