Network18 picks 35% in MobileNXT

MobileNXT, one of the first Mobile phone retailers in the country has divested 35% stake in favour of the Network18 group. MobileNXT plans to utilize Network18’s content – ringtones, movies, web creatives as well as advertising on its network. They may also explore sales on HomeShop18.

MobileNXT has opened just 16 stores [according to their website] in 16 months since its launch last April. Well 16 is not at all a big number in the present retail scenario in India. TheMobileStore which started retailing after MobileNXT has presence in 16 cities at over 200 locations in India.

The mobile retailing space has gotten really competitive when large distributors like MobileMagic in Maharashtra and UniverCell in Tamil Nadu converting their outlets into retail chains. Supremarket retailers, Subhiksha and Big Bazaar also jumped into the race introducing Subhhiksha Mobile Stores and Pantaloon consolidating its position by tying up with Axiom of UAE. In future, these stores may earn their big bucks from mobile music and entertainment boom rather than just selling handsets and accessories.