Moreover, it is gearing up to launch its second product ''Opus'', which is also a touchscreen media device with internet option, by next month. "We plan to sell around 10 lakh units of our product, which includes both Magnum and also Opus, which we are launching by June end this year," he said.

LACS has already sold 1,100 units of Magnum in the last one month, Jain added. He said besides India, LACS is eyeing the Gulf and African markets for the product, which is already available in Maldives.

The touchscreen device, Magnum, is available in the market at a price range of Rs 11,000-12,000 and it has features like audio, video, bluetooth, navigator and radio amongst others. LACS is a wireless infomedia service division of the Rs 600-crore Devraj Group of companies, which has diversified business, including jewellery, IT, specialised paper, pharmaceutical among others.

It was formed four years back and the group has already invested around Rs 60 crore during the period, particularly on product development and research. It has an R&D centre in Bangalore.

The company has contract manufacturing facilities in China, Thailand and Taiwan for making its touchscreen devices. Besides, it has also signed an MoU with a German firm for hardware designing.

Jain, however, did not provide the name of the firm and other details of the deal.