We have often seen our readers ranting about the increased presence of Chinese manufacturers in the Indian smartphone market, in the comment box below. Well, Micromax might have been listening to you all. The company has plans to increase its presence in the Asian markets. As per a report by the Wall Street Journal, Micromax revealed it plans to enter China market by next year.
Micromax’s co-founder Vikas Jain told WSj that the company is aiming to emerge as the fifth largest smartphone maker. The target cannot be fulfilled without entering the Chinese market, he told further. This won’t be the first time when Micromax is entering other markets, the company joined Russian markets in January 2014 and went on to become the third largest smartphone brand in the country.
Being the second largest smartphone vendor in India, the company won’t have an easy entry into the Chinese market. Also, Micromax has been facing tough competition in its homeland, thanks to the Chinese handset makers such as Vivo, Xiaomi, Gionee, and many more. In addition, the company also has plans to raise money through private investors or public, in the next two years.