NEW DELHI: Reiterating that comprehensive tech provider HTech is set to reach Rs 10,000 crore in revenue by the end of this year, its CEO Madhav Sheth said on Thursday that India will be a key market for them to reach that goal. Sheth last year announced a new venture called HTech, which is a 100 per cent Indian joint venture (JV) collaboration, with an aim to capture 4-5 per cent market share in the country by the end of 2024.
"We have a very clear goal to reach revenue of Rs 10,000 crore by the end of 2024. In coming years, we'll surpass the goal of Rs 10,000 plus revenue," Sheth told IANS during an interaction here.Headquartered in Gurugram, HTech has joined hands with Noida-based PSAV Global to expand the Honor smartphones' network in the country.
When asked about the company's plan to bring foldable smartphones into the Indian market, the CEO said that they are still "evaluating the local demand and aspirations about it".
"Honor Magic series is something which a lot of people are anticipating. We are still evaluating the local demand and aspirations about it. We will soon announce our local plans," he added.
Ranjit Babu, Director, Wireless and Home Entertainment, Amazon (NASDAQ:AMZN) India told IANS that Honor is one of the highest-rated products in the price segment that it operates in and already has a rating of 4 out of 5 which is among the best in the category.
"This is based on thousands of reviews that have come on the website. If I look at data regarding customers who call us for information on products, Honor appears to be among the best," Babu added.