MIAMI and NEW DELHI, July 15, 2014 /PRNewswire/ -- Brightstar Corp. and Bharti Enterprises today announced that they have entered into a definitive agreement to bring the latest mobile technologies and services to the Indian market. As part of the agreement, a Brightstar subsidiary will acquire a majority interest in Beetel Teletech Limited, a leading company in the distribution and sale of communication and media devices, enterprise solutions and IT products in India.
As the largest specialized wireless distributor in the world and a leader in innovation and diversified services for the wireless industry, Brightstar will bring the latest mobile devices and accessories from top manufacturers for distribution through Beetel's well-established distribution platform throughout India.
"The Indian mobile market is entering the next phase of growth, which will be driven by data services on 3G and 4G technologies. The smartphone market in the country recorded triple-digit growth in 2013 and offers a huge opportunity going forward," said Rakesh Bharti Mittal, Vice Chairman, Bharti Enterprises. "The new mobile businesses and related technologies that Brightstar is bringing to Beetel will help drive significant growth by leveraging our deep distribution strength."
Founded in 1985, Beetel is part of the Bharti Group and is a market leader in the manufacturing of high quality fixed line telephones for Airtel, BSNL / MTNL as well as the retail market and exports to more than 30 countries across five continents. The company also distributes and markets a wide range of leading technology brands such as Samsung, Panasonic, Polycom, Avaya, AMX, Extron, RADWIN, Huawei and SanDisk. Beetel has a strong B2B distribution reach in India with more than 500 distributors and partners, 10,000 retailers and 28 warehouses spanning across the country.
"India represents a tremendous growth opportunity for both devices and attached services as consumers continue to upgrade from feature to smartphones in record numbers," said Marcelo Claure, founder and CEO of Brightstar Corp. "Beetel is a recognized leader in technology distribution in India, and we look forward to enhancing the company's strong position."
Beetel will retain its name and all existing employees, and will continue operating from its headquarters in Gurgaon, India.
About Bharti Enterprises:
Bharti Enterprises is one of India's leading business groups with interests in telecom, agri-business, financial services, retail and manufacturing. Bharti has been a pioneering force in the Indian telecom sector with many firsts and innovations to its credit. Bharti Airtel Limited, the group's flagship company, is a leading global telecommunications company with operations in 20 countries across Asia and Africa. The Company ranks amongst the top four mobile service providers globally in terms of subscribers.
Other business ventures of the group include Bharti Softbank - a JV between Bharti Enterprises and Softbank Corp - for mobile internet. Beetel Teletech, a group company, is India's leading manufacturer and distributor of telecom and allied products. The group has a JV –FieldFresh Foods – with Del Monte Pacific Ltd, to offer fresh and processed fruits and vegetables in the domestic as well as international markets. Bharti has JVs with AXA, world leader in financial protection and wealth management, for Life Insurance and General Insurance. The group has presence in the retail sector through Bharti Retail which operates multi-brand retail stores in various formats under the 'easyday' brand.
Brightstar is the world's largest specialized wireless distributor and a leading provider of diversified services focused on enhancing the performance and results of the key participants in the wireless device value chain: manufacturers, operators and retailers. For more information, please visit Brightstar.com.
SOURCE Brightstar Corp.