iQor to Serve Global Markets from India
iQor, a US based company offering after sales service in electronic products is planning to serve global markets from India. The company plans to employ more than 20,000 people for handling the growth in business.
The company’s CEO, Peter Sykora stated that “We are looking to serve our global markets from India and for this we will scale up our capacity. … we will utilise resources here to grow our global business and not cut down business in other parts of the world.”
The company made an announcement in November regarding an investment of $200 million in the coming 3-5 years for growing business in India. It also plans to hire 20,000 people within the next three years. The company will offer sales and technical support service for electronic products including mobile, computers, set-top boxes, television and telecom equipment over 18 countries.
iQor’s Indian clients include Apple, Micromax, Karbonn, Airtel, HP, Indus Towers, Ericsson, ITI, Videocon, Tata etc. iQor serves clients in 90 nations from offices located in 18 countries.
The company’s MD for Aftermarket Services in India, Sanjay Vidyarthi stated that the company is planning to serve 50 per cent of its global business from India. However, the only stumbling block now in business expansion is the expensive and time consuming logistics infrastructure.
Vidyarthi said that the company wants the government to look at ‘Service in India’ as part of ‘Make in India’. He stated that their labour cost are quite attractive however the logistics cost in India is about 15-20 per cent more than other countries where they have major set-ups. This difference gets rid of the margin for low cost repairs including mobile handset and other consumer products.