Mar 9, 2011

Karbonn to buy South Korean Android phone design specialist

According to a report in Economic Times, Indian mobile manufacturer brand, Karbonn will buy a South Korean Android phone design specialist for about $40 million. “We will soon acquire 100% ownership in a reputed South Korean cellphone design house that is a specialist in Android smartphones,” Karbonn chairman Sudhir Hasija told ET but declined to divulge the name of the company. The Korean firm will design handsets and they will be tested at Karbonn’s Bangalore software development facility. Karbonn plans on targeting low-cost 3G phone markets in Latin America, Africa and South Asia. The company was founded in 2009 and it's investment in the Indian consumer market is over $5 million and expects to gain Rs. 1000 Crore revenue in the current fiscal year. Karbonn has it's overseas locations at South Asia, Middle East and South Africa. This venture will give a boost to the company's plans to launch Android smartphones and tablets.


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