NewTel Corporation, which owns the WellcoM Mobile brand operating in Thailand, has been acquired by Spice i2i for $22 Million, reports the Indian Express. Spice i2i is a Singapore based company previously known as MediaRing, which was acquired by BK Modi's Spice group last year. NewTel has around 8% marketshare in Thailand, and is among Thailand’s leading producers, distributor and wholesaler of mobile phones. In 2009, NewTel reported a turnover of around $56 million, and sold over 700,000 mobile phones; it has a network of over 3000 sub-dealers, and over 60 WellcoM partners. The acquisition gives Spice the opportunity to expand operations into countries such as Thailand, Vietnam, Myanmar, Cambodia and Laos. Post acquisition, Spice i2i has opened its first retail store in Myanmar on 5th December 2010. This is the second mobile handsets related acquisition from Spice this year: earlier this year, the company acquired Spice-CSL, a handsets distribution entity based in Malaysia. Spice i2i is targeting the "Indonesia to Ivory Coast" region, in line with Modi's focus on the Asian region. For the quarter ended September 30th 2010, Spice i2i reported a turnover of $65.7 million, up 137 percent year on year, much of the increase being contributed by Spice-CSL, as well as Spice i2i's mobile handset supply chain management business that was started in December 2009 with Singapore as its hub. Remember that prior to being acquired by the Modi's MediaRing/Spicei2i was primarily an internet telephony business. Post acquisition, the Spice Group is using Spice i2i to expand…
- Indian crypto exchanges plan to collect identity details for crypto transfers to private wallets: Report June 3, 2023
- Jugalbandi, A Chatbot for Rural India by Microsoft and EkStep: What to Know and Think About? June 3, 2023
- Hopeful to See Action Against E-Pharmacies Selling Medicines Online Without Licenses: Pharmacy Body Writes to States and UTs June 3, 2023
- Meta to give advertisers more control using AI and content filters June 2, 2023
- Transparency Report: Here’s all Facebook, Instagram, Twitter and Google had to say about user complaints in April June 2, 2023
MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.
Is it safe to consider all "publicly available data" as public?
PhonePe launched an e-commerce buyer app for ONDC called Pincode. We, however, believe that it should also launch a seller app.
Amazon announced that it will integrate its logistics network and SmartCommerce services with the Open Network for Digital Commerce (ONDC).
India's smartphone operating system BharOS has received much buzz in the media lately, but does it really merit this attention?
After using the Mapples app as his default navigation app for a week, Sarvesh draws a comparison between Google Maps and Mapples
Please subscribe to MediaNama. Don't share prints and PDFs.
You May Also Like
Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...
135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...
Twitter takes down tweets from MP, MLA, editor criticising handling of pandemic upon government request
By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...
Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...