John Sculley who used be CEO of Apple will be launching his new Obi phone brand funded by Singapore based firm, Inflexiopoint. The phones will be released in April and their range will be part of smartphones and feature phones priced under INR 12000 (USD 200).
Obi will compete with other manufacturers in the region, including premium phone manufactures, Apple and Samsung. Inflexiopoint will be investing 20 million dollars into this venture and the money will be used for setting up a design center, supply chain, sales as-well-as marketing network. The company aims to grow the business to USD 1 billion in two years.