Karbonn Mobiles wins the Title Sponsorship for India – Sri Lanka ODI Series

Company Brief

New Delhi, December 14, 2009

In keeping with enhancing its multi-nation reach, Karbonn Mobiles today announced that it has won the title sponsorship rights for the five matches one day series between India and Sri Lanka starting from December 15, 2009. With this association the upcoming ODI Series will be christened as "Karbonn Mobiles Cup".

The company today also expanded its handset portfolio by entering into the CDMA mobile phones’ segment with the launch of five new devices for the Indian market, in the price range of Rs.2,000 to Rs. 6,000.

Karbonn Mobiles association with cricket began during the Champions League where it was the official sponsors of Cape Cobras and associate sponsors of Diamond Eagles - the leading domestic cricket teams of South Africa and Wayamba Elevens - Sri Lanka’s premier domestic cricket team during the Champions League.

The company aims to capture a market share of 7% - 10% in India in the multimedia phone segment in the current fiscal.

Mr. Pradeep Jain, Managing Director, Jaina Group said, "The response to the launch of the Karbonn Mobiles has been tremendous making Karbonn the fastest growing mobile phones brand in India in a short span of 6 months. As a company we are committed to bringing in the latest devices for the Indian consumers at competitive prices. Today also marks our foray into the CDMA segment with the launch of five new devices."

Karbonn Mobiles has already made an investment of US$5 million for product development and its marketing & sales operations in India. This is one of the largest investments by any indigenous entity in India in a short span of six months in the mobile phones segment. The company is aiming for revenues in excess of Rs. 1,000 crore from its operations in the current fiscal year.

"Cricket has been one of the key platforms for our branding initiatives since it cuts across all segments and today we are proud to be the title sponsors of the India – Sri Lanka ODI series. This association further marks our commitment to strengthen the Karbonn brand in India", said Mr. Shashin Devsare, Executive Director, Jaina Group.

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Ayonava Bagchi

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