Micromax Plans To Enter China’s Market In 2017
Micromax, India’s top local smartphone brand, often battling Samsung for the country’s No.1 position. Now, the company is looking to globalize its business.
At the RISE Conference in Hong Kong, Micromax co-founder Vikas Jain said that entering china is an essential step for his company’s goal of becoming one of the top five global brands by 2020.
Micromax sold over 36 million smartphones, featured phones and non-internet capable handsets in India last year, but fierce competition with Samsung and other chinese players like Xiaomi, Lenovo and Huawei has slowed down its growth and forced it to look overseas to grow.
Micromax also sells its phones in Sri Lanka, Nepal and Russia. Jain said that the company is also studying the US market, and could enter more than one new country in the next 12 months.
Micromax, unlike its more mid-range subsidiary, YU, is aggressively focused on selling affordable smartphones. Its more expensive phones are priced around $220, but go as cheap as $75.
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