The Hindu BusinessLine: March, 2014
New Delhi: Canadian luxury mobile brand Mobiado has tied up with premium multi-brand electronic retailer Mihaus to enter the Indian market. Mobiado handsets are priced anywhere between Rs. 2.6 lakh and Rs. 20 lakh.
Mobiado was founded in 2004 in Vancouver by Canadian engineer Peter Bonac. It has a full keyboard, encrusted with sapphire crystal buttons and 3G technology.
The company is understood to be manufacturing less than 1 lakh units a year.
Mihaus, promoted by Naveen Rao, Managing Director of Navshiv Retail, will retail and service the brand in India.
Charu Makin, National Head, Sales & Marketing, Mihaus, said Mobiado has entered into a 10-year exclusive partnership with the company. “One of the biggest glitches with high-end brands was that there were no adequate post-sale services. We will address the service aspect also besides the distribution”.
Besides Mobiado, Mihaus retails brands such as Audio Pro and Loewe.
Makin said Mobiado was added to its portfolio as there was a latent demand for high-end handsets.
“The new generation is willing to spend money on high-end devices that are not just aesthetically good but also don’t compromise on the functionality,” she said, adding the target market for the brand is in the 21-45 year age bracket.
Mobiado will compete with brands like Nokia's Vertu, Tag Heuer Meridiist, Lamborghini, Armani and Dior handsets.
According to reports, the global market size for luxury phones is estimated at $500 million-$1 billion growing at nearly 20-25 per cent. Of this, Asia-Pacific alone accounted for 60 per cent of the business.
Mihaus has four stores in New Delhi, Mumbai and Bangalore. “We are looking at two more stores in near term”.