Note: You will require to manage field rights to perform this action.
- Navigate to the Profile Icon on the top right corner
- Click on the Set Up
- Head Over to the Modules Category
- Select the Module (Contact, Company)

- Go to the All Detail Form Fields section
- Search for Type field and hover over it, Action button will appear
- Click on the Edit Field option

- A pop up will open to Add New Value , simple add the new Type here and hit on
- Save.
