The idea behind MyCard was it to be an efficient tool or medium for the people and not to create any more hassle. Saying this we have tried making the device as relevant as possible for the targeted market in their affordable means. The device entire making costs us around approximately £30 while the total overheads makes it around £49 when producing around 5000 units. We can reduce the overheads as soon as we start mass manufacturing. This is would one of the main reason that we will not able to make any profit in the first year of business. We are aiming for the market penetration method instead of skimming method, where we aim to achieve growth by attracting the mass. This would allow us to compete with the existing companies like Apple and Samsung that have their mobile phones that are on similar lines as our product (Both the mobile companies have recently come up with biometric sensor reader).
Shivam Saraf 
Leave a comment