Madurai, May 28 (IANS) The little-known maker of Red Chery - a mobile application used for receiving mails from free and corporate e-mail accounts - is dreaming big: eating into a market straddled by BlackBerry of Canada's Research In Motion and other similar service providers.
To make this happen, the Rs.15-crore software product company, AJ Square Consultancy, is banking on an aggressive pricing strategy, and hoping to rope in two million (20 lakh) subscribers by this fiscal-end.
'With an average revenue per subscriber of Rs.110 per annum, which is about a tenth of what existing players charge, we hope to earn around Rs.22 crore from 20 lakh subscribers by the end of this fiscal. We may even offer this service free at a later stage,' AJ Square managing director Boaz Augustin told reporters here Thursday.
Like other similar products, Red Chery is a mobile application used for receiving mails from any of the free e-mail accounts (yahoo, gmail, hotmail and rediffmail) and corporate e-mail accounts (MS exchange and IBM Lotus servers) on a mobile handset.
'Red Chery is platform, telecom and mobile instrument independent. One can read e-mails like a short messaging services,' Augustin added.
AJ Square will be focussing on the corporate sector to push Red Chery.
According to Augustin, the company will offer services in Singapore and Europe once it stabilises its Indian operations and gets venture capital to the tune of $25 million. 'We are open to dilute up to 45 percent stake.'
The 200-employee Madurai-based AJ Square is into development of e-commerce and gaming software for European companies.
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