Corporates line up to tap Rs 70,000-cr mobile retail mkt

Organised mobile retailing is set to become talk of the town with big corporate houses chalking out aggressive plans to tap over Rs 70,000 crore market. Two diversified business conglomerates — Essar and Spice Group had recently announced combined investment plans of about Rs 1,850 crore to set up pan India mobile retail chains. Even hypermarket chains like Subhiksha have started exclusive stores for mobile retail — Subhiksha Mobile and Big Bazaar with M Bazaar. The companies are getting a boost with the fact that the mobile users are expected to cross 220 million by this year end and 500 million by 2010 with additions of about six million subscribers every month. The retail market for mobile phones — handsets, accessories and airtime — is already over Rs 70,000 crore market growing at the rate of 15-20%. Earlier this year, even the market leader Nokia reworked its 10-year alliance with its distribution partner HCL Infosystems.

Courtesy: EconomicTimes
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