According to him, the company may set up its own manufacturing facility in India to make it a hub to service the domestic and SAARC markets.

The company launched its first device in India, the Coolpad Note 3, on Amazon in October this year and it is estimated that the model has sold about one lakh units by now, Tajuddin said. New models are expected to be launched next quarter (January - March) onwards, he said.

The company said it is losing money on Coolpad Note 3, which it is selling for Rs 8,999 while rivals are offering the same specifications at Rs 10,000 onwards. "We want to make technology products affordable," Tajuddin added.