Former Apple CEO, John Sculley has launched a new smartphone brand in India called Obi Mobiles. Singapore-based Inflexionpoint has invested $20 million in Sculley’s new venture, according to CNBC TV18. The new smartphone brand will initially release smartphones between Rs 5,000 and Rs 8,000. These smartphones will feature value added services, however there is no information on the kind of services.
Sculley has plans to sell one million units within five months and turn Obi into a profitable company. He is also expecting gross margins of around 20 percent due to frugal expense model. He expects to sell a million units and be profitable within five months. He says Obi will launch smartphones that will be bundled with value added services, though there is no clarity on the kind of services.
With respect to the management, the company will be lead by Ajay Sharma, who was previously heading HTC India and then Micromax’s smartphone division before moving on to Obi. According to previous reports, Inflexipoint-owned company in India called Iris Computers will distribute the smartphones in the country, while the manufacturing responsibility goes to Singapore-based Dragon Technology.
SOURCE: Facebook (Young Turks)
