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Yaantra plans affordable branded smartphones
Business

Yaantra plans affordable branded smartphones

Agency News

New Delhi, June 16: Smartphone repair and refurbishment platform Yaantra said it was committed to brace Indians for the digital revolution by making branded smartphones affordable to the common man.
It also announced that in order to expand their sales operations, the company will foray into new regions tapping more than 800 cities and towns engaging over 40,000 retailers.
To support the expansion and enhance their technical expertise, Yaantra will also set-up company owned and franchisee run repair centres in 220-250 towns & cities in three years.
“The expansion is just an extension of our commitment to the 400 million people who are still on feature phones. We are geared up to fulfill their aspirations of having a branded smartphone at affordable price. With this expansion spree, we target a 5X projected growth and will also generate employment for 3000-3500 skilled professionals across our repair, refurbish and service sector in these 3 years”, said Jayant Jha, co-founder & CEO, Yaantra.
India has seen the highest year on year growth at 41 per cent in the refurb category of smartphones.
The refurbished smartphones market is set to grow by 27 pc in coming years, where the market size for repair is $2 billion and for the refurb is $4 billion expected to reach $10 billion by FY2022.
Yaantra has grown remarkably fastest with a YoY growth of over 250 per cent in five years. The company started with Rs 1.25 crore in the first fiscal and is today well placed to close this fiscal around Rs 200 crore.
Recently, Yaantra won ‘The Fastest Growing Small Business of the Year Award’ at Small Business Awards 2019. (UNI)