Smartphone maker Micromax may not be well known in Canada but five years after launching its first handset, it has become India’s second largest smartphone brand. Offering devices as low as US$50, it is on track to top sales of over US$1 billion in its current fiscal year. It sold 2.2 million smartphones in its last fiscal quarter and shows no signs of slowing down any time soon.
So where does it go from here? Reuters reports that it is expanding its device portfolio to include more expensive devices such as its first 5-inch phablet which sells for INR19,000 (about US$310). It is also planning smartphones with octa-core processors, 16 megapixel cameras and higher resolution displays. It is also getting ready to expand its reach outside of India starting in 2014. It will begin to sell its smartphones in Russia in January with Romania to follow sometime after.
Micromax has already tried to expand its global reach before. It sold feature phones in Brazil and the Middle East but was forced to withdraw from both markets when it failed to meet the sales targets it had set for itself. Whether it has more success with smartphones remains to be seen.
Expansion to North America does not appear to be in Micromax’s plans right now. But its expansion is a sign that newer players that made their name in the competitive entry-level market are looking to grow into new markets both in terms of price points and geography.