Flipkart has acquired mobile phone and electronic products repair and services startup F1 Info Solutions in a bid to to enhance its after-sales service offerings.
Post acquisition, F1 Info Solutions will be merged with Flipkart’s subsidiary Jeeves, a third- party service provider for home appliances and furniture.
As part of the deal, Shammi Moza, co-founder and CEO of F1 Info Solutions, will be joining Flipkart as senior director and will continue to hold responsibility for the business. He will report to Abhijit Upadhye, vice president at Flipkart and head of Jeeves.
Commenting on the new development, Flipkart CEO Kalyan Krishnamurthy said,
Flipkart is the top destination for mobile phones in India and having created the market for online smartphones from scratch, we’re now taking our offerings several notches higher. F1 Info Solutions is an entrenched player in this segment, and its expertise and scale is a big capability add-on for us. We’re delighted to welcome them to Flipkart. Ultimately, we want to give our customers a comprehensive service ecosystem that takes care of the repair and service needs of all their products.
Mobile phones and electronics are among the hottest categories in the Indian eCommerce sector, and Flipkart claims to have 70% market share in the online smartphone sales market. With the acquisition of F1 Info Solutions, Flipkart’s end-to-end capabilities in mobile phones would become a “critical service differentiator” compared to other ecommerce firms, says Flipkart in a statement.
F1 Info Solutions was founded in 2012, and is headquartered in Mumbai. The company has a repair service network of 158 centres in 135 cities. The firm has close to 1,000 employees, including technicians, and handles more than 50,000 service calls every month across the country.
The company is working as a service partner for many international brands like Apple, Samsung, HP, Lenovo, Sony and Asus, among others.
This acquisition is said to be in line with Flipkart’s strategy of collecting second-hand or used products through its buyback guarantee and exchange offers and repair them in order to make it re-sellable.