OnMobile launches consumer brand ONMO, unveils apps
Mobile value-added service company OnMobile Global Ltd unveiled its consumer brand ONMO and showcased a set of apps it would launch in the first quarter of 2017.
With the consumer brand ONMO, the firm will enhance its business-to-consumer (B2C) segment. OnMobile has traditionally been working with telecom operators on value-added services such as ringtones, music products and mobile radio.
Rajiv Pancholy, MD and CEO of OnMobile, said the company would significantly invest in marketing its B2C brand. "It is the next phase of growth for the company. We have an addressable base of 1.5 billion mobile users globally," he said.
Pancholy said the existing business-to-business (B2B) segment would continue. "Besides value-added services, we will now have standalone services," he said.
The Infosys-incubated OnMobile in which the Bangalore-based IT service firm still continues to be a minority shareholder had reported Rs 12.6 crore loss on Rs 816 crore revenues for the financial year ended 31 March 2016. Publicly traded OnMobile's share price this financial has been flat hovering around Rs 120. The stock price was marginally down at Rs 119.3 on the BSE on Wednesday.