Micromax to enter Chinese market in 2017

The Dollar Business Bureau

India’s largest mobile maker, Micromax, revealed its plans of global expansion and to enter the Chinese market next year.

Vikas Jain, co-founder of Micromax, stated that they are likely to enter China’s market in 2017 as the company believes the country will be a crucial market in the future due to its size in phone business. He was speaking at a gathering at Rise Technology Conference in Hong Kong when he hinted that Micromax may go public within two years, a move which will help the company to acquire funds for adding various services.

According to some reports, the declining market share of Micromax in India was the reason behind its plans to enter the Chinese market. Micromax has been facing a tough time in India due to competition from Samsung and other Chinese vendors.

Jain revealed that the company aims to become the world’s 5^th largest smartphone maker in terms of units by 2020. The Gurgaon-based company is looking forward to pool in funds for the acquisition of companies like TranServ. Besides India, Micromax has set its foot in the Russian market and is now the 3^rd largest smartphone vendor in Russia.

The extension of Micromax into the Chinese market will give an opportunity for the company to stand among the top five smartphone sellers in the world. For this year, Micromax will be aggressive in strategies to boost its online sales. International Data Corporation, in May, reported that Micromax shipments dropped as the company was struggling to push its inventories in the market.