Mumbai : Indian home-grown smartphone manufacturer Micromax Inc on Thursday unveiled its plans to sell mobile handsets in China by next years i.e 2017 as part of the company's attempt to boost its sluggish sales and revenue in order to stay ahead of its competitors in the fierce consumer electronics market.
Speaking this morning, co-founder Vikas Jain said: “We are in the second largest market, and we’re not afraid of being in the largest market as well, so you might see Micromax launching in China sometime soon.” Jain said the nine-year-old firm is “fortunately profitable” and is not close to raising new funding. “There is no pending requirement to raise funds, and we’ve actually started to invest in the wider ecosystem.”
Currently, Micromax sells little over a million mobile handsets ever month, which is far less than China's Vivo, currently the world's fifth-largest smartphone manufacturer. Vivo sells more than four million handsets per month, according to data furnished by International Data Corp. Analysts say that even a reputed company such as Apple is finding it difficult to flourish in China due to the fierce competition and its sales have been deteriorating substantially as compared to last year.