Micromax expects to hit $1 Billion in revenues this fiscal year helped by growing sales
Helped by growing sales of its affordable and entry-level smartphones, homegrown handset maker Micromax expects to hit $1 billion (over Rs 6,100 crore) in revenues this fiscal, ending March 31. The New Delhi-headquartered company’s revenues were Rs 3,168 crore for the financial year 2012-13.
Micromax, which is the second largest smartphone player in India, held about 16 percent market share in Q4 2013. Some of the top selling models were the entry level smartphones like A35 Bolt and A67, IDC data showed. The Canvas range of devices has also done well in terms of volume contribution owing to the marketing campaigns launched around them.
“We have seen huge growth in business, especially in the smartphone category (mid and entry-level). We expect to close this fiscal will a billion in revenues,” Micromax co-founder Vikas Jain told PTI.
“This is aimed at offering the best out-of-the-box experiences for the Indian users and the partnership will see a unique amalgamation of the expertise of the three companies,” Jain said.