Mind Tree's smartphone business loss put around $ 4 million
Monday, 3rd January 2011
When it comes to white-labeled smartphones, the company had already indicated earlier about the strong grip from the global customers. "As ensued, we found that contracting with large global service providers required more commitment and risks in areas such as inventory and marketing than we originally anticipated,"the company said in a statement here.
The company officials had also stated that contracting with large global service providers requires more commitment and risks in areas such as inventory and marketing than they had originally anticipated. This was a major amendment from the market conditions which existed earlier and the new model required significantly higher capitalization. After considering this fact and also the interests of all of their current stakeholders, they decided to make the decision to restructure the wireless business as a design services business.
Publication : Silicon India
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