Speaking to CNBC-TV18, managing director of India’s third largest telecom operator, Idea Cellular , Himanshu Kapania says that they are on the anvil of launching an Idea smartphone.
“Priced around USD 100, we hope to be able to help consumers transition themselves from a 2G phone to a 3G phone,” he explained.
Idea’s second quarter results were slightly lackluster on the back of higher interest costs and depreciation. Profits fell 40% to Rs 105 crore, aided by a forex loss of Rs 31 crore and revenues also came in below expectations.
On the bright side, Idea’s revenues per minute (RPM) increased by 4% this quarter despite the price war in the sector. “Improvement in non-voice revenue and arrival of 3G services,” explained Kapania. He further said that revision of promotional tariffs also helped RPM.
Going forward, Kapania says that the company is trying to maintain a balance between growth and short term profitability.
Source: www.moneycontrol.com
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