Chinese mobile internet browser company UCWeb is looking to invest $170 million (~ INR 940 crore) in expanding global operations, chunk of which will be deployed in India said, Chairman & CEO Yu Yongfu to ET during Mobile Conference in Beijing.
“India is our largest overseas market where investment will be maximised by ramping up headcount, creating start-up teams and working with droves of local mobile game/app developers like we have done in China,” added the UCWeb global CEO.
UCWeb, at present is having 27% market share of the mobile browser in India, slightly lesser than the market leader Opera which controls 30% share. In their strategy to increase the market share, UCweb will plan to go for tie-ups with both Global and Indian handset makers to enhance its mobile browser adoption levels. A similar stint was pursued by Opera very recently.
UCweb with its recent global partnership with Trend Micro, a content security company, also plans to leverage this tie up for India by protecting indian visits to potentially malicious websites via smartphones. It will also seek more local internet security provider to complement its existing security support for mobile app downloads bringing in enhanced local understanding.
The Indian expansion plans for UCweb lies inline with its todays announcement of investing USD 480 million for global expansion, M&A, and hiring one thousand people in next three years, under a project codenamed GEEK.
UCweb has globally crossed 400 million users out of which 100 million are from outside China. The way it has started taking India seriously depicts the potential opportunity it sees in Indian mobile ecosystem.