Micromax to cross $1 Billion this FYI

Greatly boosted by its USP of being affordable, Micromax is seeing a commendable rise in sale of its entry-level smartphones. And, with this constant expansion, the home-grown handset maker, Micromax is expecting to cross $1 billion revenues in this fiscal year, ending March 31.

The Delhi-based Indian company recorded the revenue of Rs. 3,168 crore in the last fiscal year 2012-13.  

This second largest smartphone player in India, held about 16% of market share in fourth quarter of 2013. And its top selling models were A35 Bolt and A67. Plus, its Canvas range of mobile phones also did a good coverage.

“We have observed a great growth in business, especially with smartphone category of mid and entry level. We are expecting to close this fiscal year with a billion in revenues,” said Vikas Jain, co-founder of Micromax.

Micromax aims to continue launching innovative, yet affordable products for variant platforms.

“We will launch an Android Kitkat based product within the coming 60 days,” Jain added.

According to him, Micromax is also in discussion with Microsoft about producing Windows based products in the Indian market.