Micromax is the second largest player in the mobile space in India just after Samsung with about 13 percent market share according to IDC data for Q4 2013. Micromax has already begun production of smartphones at its Uttarakhand facility in Rudraprayag. This will definitely help bring down production costs and make the company gain an even better position in the market.
Speaking of the market, India is the third largest smartphone market in the world. Although we might not make or break the flagship launches from companies, budget segment sales in India are second to none. Its good to see an Indian company manufacturing or atleast assembling devices in India, it boosts market sentiments as well as general opinion.
Micromax further added that they want to double their revenue to USD 1 Billion (Rs. 6000 crore) by the end of FY 2013-14 from the current Rs. 3,168 crore as reported in FY 2012-13.
