Fire-Boltt to foray into smartphone segment with $50 mn investment, targets 4G, 5G devices

New Delhi: Indian smartwatch-maker FireBoltt is getting ready to enter the highly competitive local smartphone market in August with its Boltt brand of 4G and 5G handsets. The handsets will be priced ₹12,000-17,000 and targeted at people for whom established brands of smartphones have become out of reach after recent price hikes, cofounder Arnav Kishore told ET. FireBoltt is investing upwards of $50 million to launch the smartphones and will operate on thin margins for the initial phase, he said.