KUALA LUMPUR: M Mobile Sdn Bhd, which is 30% owned by Kosmo Technology Industrial Bhd, has set a target of producing 25 million mobile phones over the next five years.
Chairman Norhamzah Nordin said the total investment cost would be RM300mil, staggered over the period.
“If we achieve the projected production figures, it would make us among the top 10 mobile manufacturers in the world,” he told reporters after M Mobile launched its first model of the M10, the first locally-designed and developed mobile phone, yesterday.
The ceremony was launched by Prime Minister Datuk Seri Abdullah Ahmad Badawi.
Norhamzah said the company had recently secured a contract to produce 100,000 mobile phones this year for Intelpro, an Africa-based company. However, the management declined to disclose details of the contract.
The company had also secured a five-year contract worth RM2bil with Saudi Television Manufacturing Co (Satjet) under which M Mobile would be the sole supplier of mobile phones for Satjet, which had committed to buying at least one million phones annually.
“The Saudi deal also entails us setting up an assembly line in Saudi Arabia to make the phones. The plant will begin operation in May,” said chief executive officer Zainudin Mohd Salleh.
The company is also eyeing other foreign markets like Indonesia, India, Russia as well as Asean countries.
M Mobile, which spent RM15mil in research and development last year, has targeted to sell about 300,000 units of M10 locally this year.
It also plans to invest RM25mil in the next 10 months to develop six more models to be launched this year.
“We aim to sell one million mobile phones by year-end,” added Zainuddin.
There are three variants of M10, priced between RM499 and RM555.
M Mobile plans to increase its workforce from the current 70 engineers to about 200 by year-end in line with the company's overseas expansion plan.