Intex: Growth in Variety
The mobile accessories business of Intex in India touched a revenue of Rs 100 crore in FY 16-17 and is expected to grow by 20% this fiscal. The mobile accessories vertical will soon be launching ‘smart accessories’ to capture the burgeoning smart phone market in the country. Intex entered the mobile accessories vertical in 2011 and, since then, has been growing rapidly by developing and designing products ranging from batteries, chargers, hands-free devices, cables and power banks, among others. Intex also sells batteries for other Indian brands like Micromax, Lava and Karbonn and even for Nokia, Samsung and some Chinese brands. The company reported Rs 67 crore in revenue in the financial year 201516, up from an average growth rate of 90% year-on-year. The significant accessories sale is via batteries and chargers – 70% of the business value originates in this category. “Intex’s growth came from new products, including power banks and accessories such as USB cables,” informs Manish Gupta, Business Head, Intex Technologies. He adds that for the mobile accessory as a whole division, the revenue sat at 25% with standard growth rate of 20-25%. Intex is also aiming to launch a separate a smartphone accessory section wherein they already have one product -- MFI cable for iPhones. The company has taken a licence from Apple to launch the cable which is available online as well as in retail stores. It sold 400,000 units of power banks in the months of September and October alone. The sale of power banks has gone up by more than 100% as compared to the same time last year. There are almost 1,000 channel partners with Intex for accessories business pan-India.