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Lokesh Choudhary · · 5 min readShark Tank-funded startup hits profitability building budget laptops
If there is one device students need, it’s a laptop. According to a study, 90% of students prefer laptops for their coursework.
However, these devices can be expensive. While a student in India can get a smartphone for about US$60, the starting price of a laptop is over US$250.
Primebook aims to solve this problem through its US$120 laptop. The startup is able to lower the cost of its device by using an operating system based on the Android Open Source Project.
Founded in 2017, the company initially aimed to create an affordable notebook-like device that would rely on a smartphone for processing power and internet connectivity. Due to hardware challenges, this plan didn’t come to fruition, leading the team to develop a low-cost laptop instead.
Photo credit: Primebook
In simpler terms, Primebook’s device is a modified Android tablet with a user interface resembling that of a smartphone but a hardware form factor of a laptop.
Despite the low price tag of its products, Primebook has built a profitable business. The company says it earned a net profit of approximately 10% of its revenue for the financial year ended (FYE) March 2023, which would put it at around US$72,000.
The firm’s main focus is to build a US$12 million revenue business by selling its product through ecommerce platforms like Flipkart and then bringing it to retail stores.
Primebook recently gained attention when it secured funding on Shark Tank India. It plans to enter Vietnam and Indonesia next year.
The company was established by Chitranshu Mahant, Aman Verma, Umang Leekha, and Pankaj Rawat. While none of them have experience in the laptop businesses, Verma and Mahant previously worked in the areas of logistics network expansion and retail distribution, respectively.
Mahant spoke with Tech in Asia in detail about the company. The following interview has been edited for clarity and brevity.
From left: Pankaj Rawat, Chitranshu Mahant, Aman Verma, Umang Leekha, co-founders of Primebook / Photo credit: Primebook
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Primebook plans to enter Vietnam and Indonesia soon and has a retail market strategy for India next year.
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