These include the latest generation Wi-Fi 5 and Wi-Fi 6 Access Points, P2P & P2MP Unlicensed Band Radios, L2 & L3 Switches, and highly specialized antennas.
As per the regulatory filing, HFCL highlighted that signing up of this distribution agreement, on the back of successful shipment of 150,000+ '10' units within the first 12 months of its launch, is aimed at twin-fold gains. On the one hand, it is going to strengthen HFCL's product distribution network for the existing and future product lines. On the other hand, it is aimed at accelerating the expansion of market share for maturing products while reducing the time to market for recently launched and to be launched products.
Jitendra Chaudhary, Executive President HFCL said, "We, at 10, are fully committed to our distribution partners. Cognizant and appreciative of the crucial role they play in seamless, across-markets delivery and deployment of our products and solutions, we work with our partners as our extension, both echoing the same belief and confidence in our customer value proposition. We are confident that Beetel Teletech's broad reach, technical and sales expertise, and deep insights into the networking market, will undoubtedly help us proliferate our products and services."
Sanjeev Chabbra, MD&CEO, Beetel said, "We, at Beetel, are excited and thrilled to collaborate with HFCL as their Value Added Distributor for the Indian market. We are bullish about the overall growth of the access market. We are confident that we will be playing a pivotal role in their journey of providing Internet for all through their world-class next-gen Made in India Access Solutions. We look forward to opening new frontiers, maximizing reach, exhibiting numerous benefits of securing a connection via IO's extensive product portfolio."
Launched in October 2019, 'IO' is HFCL's industry-leading brand of Network Access Solutions. It offers a wide range of wireless and switching products. Beetel, on the back of its robust pan-India distribution network, will ensure seamless and continuous availability of the extensive portfolio of 10 products, under this partnership. Beetel's in-depth knowledge of the market will be invaluable in supporting IO's expansion plans and its vision of providing Internet for all.
At around 2.36 pm, HFCL was trading at Rs 71.85 per piece down 0.4% on Sensex.