Chinese smartphone makers are making a beeline for India, the world’s third largest and fastest growing smartphone market. After Xiaomi, Oppo, Huawei, ZTE and OnePlus, Coolpad Dazen is planning to launch its smartphones in the country.
Coolpad, which was once the biggest smartphone vendor in China, has lost its sheen in the recent past being overtaken by Xiaomi, Apple, Samsung. This won’t be the first India outing for the smartphone vendor, which had tied up with Spice in 2013 to launch co-branded Spice Coolpad smartphones.
Last December, Chinese Internet giant Qihoo 360 invested $409 million in Coolpad to become Coolpad Dazen. After the investment, Qihoo held 45 percent stake in the company with the remaining 55 percent by Coolpad. The joint venture transaction was completed last month. With this Coolpad will bring its hardware and manufacturing expertise with Qihoo bringing its software capabilities.
Coolpad has hired Varun Sharma to head its India operations, who was earlier the director of strategic alliances at Flipkart. The company plans to bring smartphones in sub-Rs 15,000 price segment in India.
The company also plans to set up its manufacturing and R&D centre in the country.