Dutch electronics brand Royal Philips is all set to re-enter the mobile phone market in India. The company hopes to tap into a higher margin business in India, which has been considered to be the world’s fastest-growing mobile phone market.
Alexander Bakkeren, VP and category leader for the mobility segment in Philips Consumer Lifestyle spoke to Economic Times saying, that Philips has signed up with Nokia to make accessories for the Finnish phone maker. It is also known that the Philips accessories will support Nokia’s rather popular music-enabled phones.
Mr.Bakkeren also said that Philips was keen on the deal with Nokia as the Finnish phone company is the market leader in the mobile phone segment in India.
“This allows huge opportunity for a brand like Philips to get an initial advantage in a mobile telecom that is ready to explode in the next 2-3 years,” he added.
A company official has said that Royal Philips plans to launch a range of accessories in India sometime this month.