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Spice Mobility Ltd, a part of Spice Group, is a multi-faceted group with an exclusive telecom eco-system in India. The company is engaged in the Telecommunications-Mobile business and Information Technology business. Telecommunications-Mobiles segment represents the business of trading in mobile handsets and Information Technology business represents the business of manufacturing, trading, installation/erection and networking of computer hardware including maintenance and servicing thereof.
Spice Mobility Ltd was incorporated on December 1986 with the name Modi Olivetti Ltd. The company was established to manufacture minicomputers and microprocessors based system in collaboration with Ing C Olivetti & C., S.p.A of Italy.
In October 1989, the company came out with their maiden public issue to part-finance their project to manufacture and market mini computers / microprocessor-based systems at Rampur, Uttar Pradesh. In January 1, 1990, they commenced commercial production at their Rampur Plant.
In April 23, 1999, the joint venture agreement with Ing C Olivetti & C., S.p.A. was terminated and the name of the company was changed from Modi Olivetti Ltd to MOL India Ltd with effect from August 23, 1999. In the year 2000, the name of the company was further changed from MOL India Ltd to Spice Net Ltd with effect from December 5, 2000.
In March 24, 2004, the company acquired 50.11% shares in Graphtech India Ltd, an unlisted public limited company in the similar line of business. Thus, Graphtech India Ltd became a subsidiary company.
During the year 2004-05, the company their business avenues and diversified their activities to include Mobile Handsets business. For that, they established industrial undertaking at Baddi, Himachal Pradesh. Since, the name of the company was not reflecting the business activities being pursued by the company; they changed the name from Spice Net Ltd to Spice Ltd with effect from July 4, 2005.
During the year 2005-06, the company divested their entire stake in their subsidiary Graphtech India Ltd. Thus, Graphtech India Ltd ceased to be a subsidiary company.
In the year 2007, the company changed their name from Spice Ltd to Spice Mobiles Ltd with effect from April 26, 2007 in order to reflect the core business activity pursued by the company (ie) Mobile Handsets business. The company decided to discontinue the Information Technology (IT) business.
During the year 2008-09, the company introduced 3G handsets and plants to introduce more handsets once the operators start the service. They also launched innovative products for CDMA customers. They started their operations in Nepal. Also, as a part their global strategy, they will shortly be expanding to other markets like Bangladesh & Africa.
The name of the company was changed from Spice Mobiles Ltd to Spice Mobility Ltd with effect from June 07, 2010. Also, the company decided to amalgamate Spice Televentures Pvt Ltd with the company with effect from January 01, 2010.
The company is setting up a manufacturing facility for Mobile Handsets at the factory premises of the company situated at Baddi, Himachal Pradesh. The company plans to introduce new models in all the segments offering more contents and value through embedding local contents like Bollywood ring tones, games, true tones, wall papers. Also, they plan to partner with various companies located in Europe and Asia in order to foray into those markets.
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