Smartphone manufacturer, Karbonn Mobiles is planning for an initial public offering (IPO) in 2016. The company’s valuation has increased on account of the sales of its Android devices made in partnership with Google Inc.
The company is also aiming at a four-fold rise in its revenues from Rs 45 billion Indian rupees ($743 million) for the year ended March 2014 to Rs 180 billion for the year ended March 2016. Karbonn is planning to achieve this target by foraying into European and African markets.
Meanwhile, Karbonn has also been working with Google to develop a sub-$100 smartphone for the Indian market, which is planned to be launched in 2014.
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