India is one of the largest consumers, assemblers and manufacturers of mobile phones worldwide. It holds a second position after China in terms of Mobile Sales.
With the staggering growth of manufacturing Industry, India had two mobile manufacturing units in 2014 and it extended up to 268 units now. With more than 11% increase of mobile phone manufacturing, the country has steeply risen since 2014.
However, the estimated 95% of mobile phones sold in various cities and are still increasing rapidly. As the selling and manufacturing of mobile phones is expanding, OKIE Electronics flourishes as a prominent company in the Electronic industry. It is a leading company of importers and factory assembles of Smart Phones, features phones, led TV and sound system. The Company is strongly committed to providing customers with innovative and excellent quality products with independent intellectual property rights.
Sakshi Jain, Sr. Sub Editor-ELE Times had an opportunity to interact with Jitin Masand, Founder and Managing Director of OKIE Electronics. He talked about the latest products and the future of electronics and technology. Excerpts.
ELE Times: Can you tell us about your journey with OKIE Ventures and how you became the Managing Director of the company?
Jitin Masand: I’ve always had a fascination with the world of electronics, and since 2008, I’ve actively traded mobile phones and other electronic devices. However, what prompted me to start OKIE Electronics was realizing a significant gap in the market for high-quality gadgets and entertainment products in tier 2 and 3 markets.
After conducting thorough market research, I noticed a shift in buying patterns in these markets, and I saw an opportunity to offer the right products at the right price. Therefore, I established OKIE Electronics to address this gap by providing top-of-the-line products that not only meet but exceed our customers’ needs and expectations. Over time, I took on more responsibility within the company. Since then it has been a challenging and rewarding journey, and I’m proud of what we’ve accomplished as a team.
ELE Times: Can you discuss some of the latest projects that OKIE Ventures is working on, and how do they align with the company’s mission and values?
Jitin Masand: OKIE Ventures’ current priority is to enhance the televisions with Boom sound technology to offer users an immersive cinematic experience. Since televisions serve as the primary entertainment medium for most households, exceptional audio quality is crucial. The company’s unique selling point is our dedication to providing the latest technology at reasonable prices, setting them apart from our competitors. In addition, OKIE Ventures aims to introduce innovative technology to smaller cities faster than other companies, guaranteeing that everyone can experience the latest technological advancements.
ELE Times: What do you think is the future of electronics and technology, and how do you see OKIE Ventures contributing to that future?
Jitin Masand: I believe that the future of electronics and technology is looking bright due to the constant advancements in areas such as AI, AR, VR, 5G, and the Internet of Things. As OKIE Ventures, we can play a major role in shaping this future by utilising our ODM model to develop and design innovative products in-house. These products can then be manufactured and supplied to companies in India, helping bridge the gap between technology providers and end-users. Ultimately, our efforts can contribute to the growth and development of the technology industry in India and beyond.
ELE Times: Can you discuss any challenges that you have faced as the Managing Director of OKIE Ventures, and how did you overcome them?
Jitin Masand: One of the biggest challenges I faced was the communication of the latest features to our target audience, especially in tier 2-3 markets. These markets have a different mindset and it becomes essential to communicate the features in their local language. To overcome this challenge, we established a regular retailer training and support system to address any queries that they may have. This approach helped us to educate our customers about our latest offerings, and we were able to establish a strong relationship with them. With a customer-centric approach, we did overcome this challenge and continue to expand our business in tier 2-3 markets.
ELE Times: What advice would you give to aspiring entrepreneurs who are looking to start their own electronic company or seek investment for their start-up?
Jitin Masand: My advice would be, to begin with conducting comprehensive market research, creating a robust business plan, and assembling a skilled and committed team. Furthermore, networking and seeking counsel from seasoned industry experts can offer valuable perspectives and direction. Finally, persistence, flexibility, and a willingness to learn and adapt are critical attributes for achieving success in the ever-changing technology landscape.