According to Counterpoint’s Market Monitor program, India’s leading consumer electronics company Micromax Informatics Ltd has occupied the position of third largest handset player in Russia with a market share of over 9% in the fourth quarter 2015. The company growth rate is estimated to be 350% annually in the Russian market.
“This is an exciting time for us at Micromax as we are a step closer to our vision of becoming the part of the top five handset players in the world. Russia has been one of our focus markets in the past two years and we have seen a great consumer acceptance for the brand in the market. With our focus on affordable smartphone segment, 4G and 3G, we will continue to work towards consolidating our position in the Russian market,” Amit Mathur, Head International Business, Micromax Informatics commented on its new achievement.
Around six major players exist in the market and Micromax has won over them to occupy the lead third position. It was way back in 2014 that Micromax entered Russia. It initially launched Canvas Beat and Canvas Social, following which it continued to focus on affordable handset market.