China-based firm Transsion Holdings has bought an 80 per cent stake in Spice Mobile as it aims to garner a larger market share in the fiercely competitive Indian mobile handset market. Transsion holds an 80 per cent stake in the joint venture (JV) company while the Modis of the Spice Group hold the remaining 20 per cent. It is reported that Transsion has no plans to buy out the remaining stake. With this deal, Transsion is expected to handle the manufacturing, sourcing and marketing of Spice phones in India. Further, Transsion has adopted a multi-brand strategy in the country, positioning each brand for different segments of the huge Indian handset market. The firm aims to reposition Spice in the mid-category segment of both feature and smartphones to compete with established brands catering to segments that range from Rs 800-Rs 9,000.
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