Being an Indian, I am a big fan of Micromax. They have done amazingly well to gain huge market share in the congested smartphone industry where the global leaders such as Samsung and Apple spend huge amounts of dollars in order to release annual upgrades to their phones. Micromax has consistently released phones with impressive hardware and some nifty software features and has been able to attract the majority of the customers largely due to their attractive pricing.
As per a latest report by PTI, Micromax will now start assembling its phones in India instead of importing them. Currently, the Company has outsourced its Assembly to Manufacturing heavyweights such Foxconn. Micromax co-founder Rahul Sharma told PTI “We have a plant in Rudrapur and have already started assembling of phones on trial basis there. It will be commercially launched in the first quarter of next year”. This is bound to provide them some more economic and logistical advantage over other low cost domestic brands.
The Company that began with a Phone having a one month back-up has recently been taking India’s smartphone market by storm. As per the latest statistics, Micromax currently holds the the second largest share in the India’s smartphone market at 22% and very soon aims to start exporting phones to Russia.
“We closed last year at about Rs 3,168 crore and we are looking to double that this financial year. We are on track to be a billion dollar company by FY 14,” Sharma added. It is going to be interesting to see if the International brands step up their game and alter their strategy to take on the domestic brands in one of the largest smartphone markets in the world or keep the segment open for brands such as Micromax to flounder successfully.