"We are targeting to sell more than one lakh smartphones in India as demand for such phones is enormous and its market is growing very fast," company's founder and CEO Prashant P Bora.
Bora said the company has set a target of achieving sales of Rs. 400 crore from smart phones and tablets in 2013-14.
"In current fiscal, smart phones and tablets will contribute Rs. 100-150 crore in our total business, but in next fiscal, we expect our sales will reach Rs. 400 crore from both these segments," he said.
Having decided to spend Rs. 50 crore on brand building and advertising, the company has also signed bollywood actress Bipahsa Basu as brand ambassador for smart phones and tablets.
He said the company will soon roll out 10 new smartphones with 3.5 to 6 inch screen in the range of Rs. 4,000 to maximum of Rs. 13,000 per unit.
"Though the market for smart phones is huge across the country, we plan to target Punjab, Haryana, Gujarat, Jammu and Kashmir, Andhra Pradesh and Karnataka for our smartphones," he said.
Byond has 50:50 joint venture with Chinese company Hongkong Leaguer Technology for manufacturing phones and tablets with manufacturing facility at Shenzhen in China. The company has manufacturing capacity of 4 lakh mobile phones per annum.
It is also Original Equipment Manufacturer for overseas brands like Sprint in Bangladesh, Connspeed in Vietnam, among others.