Mindtree enters the mobile product market
Bangalore: Mindtree has forayed into mobile product business with the launch of N!Mo (Next in Mobilty) which will be made available to brand mobile phones, telecom service providers and original equipment manufacturers (OEMs). "The N!Mo will become MindTree's seventh growth engine and will play an important role in achieving the stated vision of $1 billion revenue by 2014. We believe that this new business will provide 10 percent to our overall revenue and this is the reason we consider this as our growth engine," said Ashok Soota, Executive Chairman, MindTree.
MindTree will use the wireless and 4G technologies from Kyocera Wireless India (KWI) which it acquired recently. Acquisition like Kyocera will help MindTree achieve the goal of $1 billion by 2014. But Soota says that the company would prefer earning most of the revenue through the main company. "Only 25 percent of our last year's revenue came through the acquired firms, while the major portion of revenue was through organic way and we always want to keep the organic way as the major driver," he added.
The company also announced the appointment of Samartha Raghava Nagabhushanam, Founder Director and Managing Director of KWI as President and Chief Executive Officer of the new business unit.
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