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Brightstar aiming to exceed 60 percent growth rate in 2017

| Updated: Apr 06, 2017 21:17 IST

New Delhi [India], Apr. 6 (ANI): Brightstar Corp, the largest global subsidiary of SoftBank Group Corp, the world's leading mobile services and technology solutions company has projected its growth rate for 2017 to be more than 60 percent. Brightstar entered the Indian market after acquiring a majority stake in Beetel Teletech in 2014. For Brightstar, India is a crucial market presenting tremendous growth opportunities across technology distribution and associated services in the handset, IT and networking space. In its two years of operations in the Indian market, Brightstar India has seen a phenomenal 300 percent growth from where it started in 2014. "Brightstar believes India to be one of the most promising countries amongst the 100 countries it operates in. We have, and will continue to invest across businesses, systems and in people to win in this market," said Jaymin B. Patel, Brightstar's Global President and CEO, during his visit to India last quarter. To lead the Indian market, Brightstar will continue to focus on the core distribution business, and excel across operations in five segments, consumer affordability, business technology, network solutions, channel management, supply chain and reverse logistics space. Some of the new offerings for 2017-18 are financial services like device financing, future price commitment, gadget insurance and buy-back and trade-in. With significant investments in telecom over the last few years, cloud services have become more accessible to the mid-market segment. Cloud services are expected to be worth approximately a USD six billion market by 2020. Brightstar also aims to enter the surveillance market soon. This is a new but rapidly growing sector estimated to be worth USD 300 million by 2020, with a projected growth of 43 percent over the next three years. There are few organised solution providers for surveillance products and an early mover will certainly reap the benefits. Brightstar retains the Beetel landline phone product range, which continues to dominate the segment with above 75 percent market share. The company plans to take this range to various emerging markets soon. The company has invested in building leadership from across industries including telecom, IT, retail, banking, and logistics to build in internal capabilities to deliver on its goals. With global expertise of handling emerging markets, Brightstar looks to provide customer focused solutions simplifying the business needs. "2017 is an inflexion point for the Indian telecom and IT industries. To capitalise on this change, Brightstar has made a shift from 'selling products' to 'providing solutions' for its end customers across retail, online, enterprise and networking," says Deval Parikh, CEO Brightstar India. (ANI)