Indkal Technologies inks deal with Acer to manufacture, design smartphones
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Consumer electronics startup Indkal Technologies on Thursday announced it has entered a trademark licensing agreement with Acer Incorporated to design, manufacture, and distribute smartphones under the Acer brand in India.
The deal marks the introduction of Acer-branded smartphones into the Indian market.
This comes a month after the Bengaluru-based startup raised its maiden fundraise of $36 million (approximately Rs 300 crore) led by Mauritius-based Aries Opportunities Fund. The firm said it would use the capital for the development of products like air conditioners, televisions, washing machines, and refrigerators through a new research and development (R&D) facility.
Indkal Technologies will launch a “wide range of smartphone models” under the Acer brand in mid-2024, with a focus on smartphones priced between Rs 15,000 to Rs 50,000, the company said.
It has a target of manufacturing a million devices per year before it scales up further. The firm is applying for the smartphone production-linked incentive (PLI) scheme.
“Acer smartphones are something we have been working on for a couple of years and we are ecstatic to finally announce the foray. Our customers will experience exceptionally well-designed smartphones with high-end processors, top-notch camera technology, and a host of premium features across the range. The best part is that all Acer-branded smartphones will be designed and manufactured in India, which is also a unique achievement for Indkal,” said Anand Dubey, chief executive officer of Indkal Technologies.
Since 2021, Indkal has held the licence for manufacturing and distributing Acer-branded televisions, home audio products, and home appliances in India. The company has since introduced Acer large appliances in India, starting with premium air conditioners and washing machines in 2023.
“We are excited that Indkal Technologies will further this mission in India by providing a wide range of smartphones under the Acer brand that expand end-user choices and enrich their experience in the India market,” said Jade Zhou, vice president of global strategic alliances at Acer Incorporated.
As of the first quarter of the calendar year 2024, the Acer Group is the third-largest personal computer manufacturer in the country with a market share of 15.4 per cent.
According to Indkal’s annual financial statements with the Registrar of Companies (ROC), it recorded a more than four-fold jump in its revenue to Rs 260 crore in FY23 from Rs 61 crore in FY22. The company also turned profitable in FY23 with a Rs 10.89 crore profit against an Rs 11.60 crore loss in the previous year.
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