Gionee has been quite since a long time in India & today we get to know that this Chinese manufacturer has sold his Indian Mobile business to an Indian brand Karbonn. Arvind R Vohra has signed the agreement to buy the property. This agreement is a long term brand licensing deal closed in 250 crores.
The deal was signed this Thursday at Hong Kong & Arvind now hold 74% stake in Gionee India, whereas the 26% of the shared is hold by his family. More detail about this deal will be highlighted after 2-3 weeks, where we will know on how the India operations will be managed by the Arvind in India.
The only thing that we are aware of is that the partnership will be hold for 10 years, whereas the Chinese company will be shared the royalty. It is also said that Arvind will be taking charge of the payment involved in brand licensing.
With this deal, it is quite sure that we could see some action happening for Gionee in India soon. But to have a clear Idea on what the deed is, we will have to wait until we get the official announcement.