Search Result for : Micromax

The Dollar Business Bureau Topwise Communication Co Ltd, China’s original device maker (ODM), will launch smartphones under its ‘Comio’ brand in India and is also planning an investment of Rs.500 crore in the coming two years to establish its presence in the Indian market. The company which is aiming to acquire 5% market share over the next three years, has to face competition from firms like Samsung, Micromax and Xiaomi in India. “We have been an ODM to many players, including those in India. There is a huge opportunity in India and we are keen on tapping that,” Sanjay Kumar Kalirona, CEO, Comio, told reporters. Comio will focus in the smartphones market within the price range of Rs.6,000-12,000. This is a prime spot taking ...

The Dollar Business Bureau Indian mobile phones manufacturer Micromax is planning to create an independent fund of $75 million that will be focussed on investing in local and foreign consumer internet firms. In the past two years, the handset maker has already done investment in around 10 startups that include ixigo, HealthifyMe, Gaana and Scandid. The fund, Orbis Capital, is aimed to raise around $75 million in the coming 12-18 months. Supported by Micromax as investor and strategic partner, the fund will be focussed on investing in consumer internet firms both domestic and international. “We have tasted a great amount of success with all our investments that we strategically did over the last two years and this progression to announce an independent fund was due to the ...

The Dollar Business Bureau Competition Commission of India (CCI) on Tuesday approved the proposed purchase of 2% stake in handset-manufacturer Micromax by Madison India Opportunities Trust Fund (MIOTF), in addition to three other deals involving different companies.   The regulator on Monday said in a tweet that it has approved "acquisition of equity stake in Micromax Informatics Limited by Madison India Opportunities Trust Fund". MIOTF is registered as an Alternative Investment Fund with the capital market.   Meanwhile, CCI has also approved ICU Medical Inc’s buying of drug major Pfizer's hospira infusion systems business. Pfizer now owns about 16.6% of ICU Medical, according to the company’s October press release.  CCI has also cleared acquisition of Pfizer Inc's Hospira Infusion Systems business by ICHOSPIRA U Medical Inc, the ...

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 ...

The Dollar Business Bureau Tablet PCs sales in India increased by 7 percent to 0.91 million units during the period January-March 2016 as compared to the same period last year, a market research report specified. DataWind is leading the market with its share at 34.2 percent, recording a sequential growth of 37 percent, followed by Samsung at 21 percent. The third position is of Pantel (partner of BSNL), which has a market share of 20 percent. Micromax and Lenovo have a market share of 10 percent and 4 percent, respectively, according to Quarterly Tablet PC Market Review 2016 by CyberMedia Research (CMR). Wi-Fi-enabled devices witnessed an increase of about 48 percent, while the demand for 3G and 4G devices saw a decline, the report added. Commenting on ...

The Dollar Business Bureau Micromax, a leading mobile handset manufacturer of India, said that it plans to invest Rs.2,000 crore over the next 5-6 years, to expand its business.  The handset manufacturer set up a new manufacturing unit in Hyderabad with an initial investment of Rs.100 crore. This is the second plant of the Bhagwati Products Ltd, the manufacturing subsidiary of the company. Speaking at the inauguration of the plant on Thursday, Rajesh Agarwal, co-founder of Micromax, said that the company will expand its operations this year to two to three countries. “Having presence already in Russia and SAARC countries, we are now looking for expansion to Iran, African and CIS countries,” he said.  The handset maker targets a growth of 25 percent during the ...

The Dollar Business Bureau Prime Minister Narendra Modi's ‘Make in India’ initiative seems to have had a positive impact on the mobile handset manufacturing in the country.  According to the latest data released by the Cyber Media Research (CMR), "out of the total handsets shipped during April-June 2015, 24.8% were manufactured and/or assembled in India compared to 19.9% in the previous quarter."  The CMR’s India Mobile Handsets Market Review report also stated that the smartphones were on way to account for half of all mobile phones shipped in India, currently adding up to 43% of total mobile phone shipments in the country.  "India shipped 56.6 million handsets during the April-June this year with 43% of them being smartphones. During April-June 2015, smartphones ...

The Dollar Business Bureau The Indian mobile handsets market declined 15% in terms of overall sales in the first three months of 2015 even as the market leader Samsung managed to retain its leadership position, a study said on Wednesday. Sluggish sales registered in both smart phone and feature phone segments. However, smart phones sales declined by only 7% as compared to more than 18% in the case of feather phones segment. Of the total 53 million mobile handsets sold during the first quarter of this year, 37% (19.5 million) were smart phones, said the report released by Cyber Media Research (CMR) on Wednesday. Experts attributed the downward sales to the lack of customers’ interest in new models and change in ...