Micromax to Enter South Africa to strengthen its International Operations
The Silicon Review
18 December, 2018
Smartphone makers, Micromax will enter the market in South Africa in order to strengthen its international operations. The move by Micromax expects to contribute as much as 20% to its overall revenues by next fiscal year.
The company intends to expand its wide range of electronics products TV and smart accessories to the Middle East and Russian Federation. Currently, the company sells its products in India, Middle East, Bangladesh, Sri Lanka, and Nepal and it is facing a tough challenge from competitors like Samsung, and other Chinese brands like Vivo,Oppo, and Xiaomi.
As per Vikas Jain, Co-founder of Micromax, the company will enter South Africa’s market soon and have joined hands with Vodafone there. There is a huge opportunity there, almost 8M devices/month.
Micromax has already rolled out consumer electronics in the SAARC region and plans to extend the range to the markets in the Middle East and Russian Federation.
Initially, Micromax had an early success in dominating the Indian market and managed to cement a place in the global competitive market but they started struggling to maintain their position in the market once Chinese players like Oppo, Vivo,andXiaomi started to capture the Indian market.
India’s Smartphone market is one of the largest in the world and is gradually evolving. According to IDC, India’s smartphone shipments touched an all-time high (42.6M units) during July –September this year’s quarter, which marked a yearly growth of 9.1%.
The company also plans to introduce new smartphones in the coming weeks to strengthen its position in India.
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