Home » Business » India » Micromax Buzzing–From upcoming IPO to producing the world’s lightest touch phone!
Last updated: May 30, 2014 at 11:44 am

Micromax Buzzing–From upcoming IPO to producing the world’s lightest touch phone!

Micromax Informatics is India’s biggest mobile handset seller. Started less than 3 years ago, Micromax has garnered a 4.1% market share (by revenue) and a revenue of Rs 1,600 cr last year in the US $ 6.7 billion Indian handset market. Today it is selling more than 1 million phones per month and heads a group of domestic companies like Karbonn, Spice, Zen, Videocon, Lava etc.

micromax-logo

Micromax doesn’t seem contented with taking the normal route. It has plans of launching an IPO to raise about 150 million dollars. The major part of the capital would be used to set up a new manufacturing plant in India and the rest in expansion into markets and other activities.

As we can recall sometime back, Indian Government had announced that it put restrictions on selling Chinese Manufactured phones in India. Probably the reason why Micromax is planning to setup its own manufacturing unit locally. But it remains to be seen whether they will be able to provide the same cost advantages in India.

The have also recently sold less than 10 percent stake to three US-based private equity investors for a total of about two billion rupees (44 million dollars).

But this is not all… Micromax has gone ahead and tied up with Modu Ltd. (A mobile company from Israel) to produce the world’s light touch phone (Modu T) weighing at just 55 grams.

Micromax Modu-T

Its features include: –

  • 2.2 inch touch screen
  • Memory card (2GB) extendable upto 32 GB
  • Other usual features like IM, Social networks, Music Player etc

Another special feature of the phone is the two jackets which come with it and when they are connected, they add new features to the phone. The camerafy jacket converts the phone into a 5MP camera while the sportfy jacket can be used while while running / jogging etc to measure number of km etc.

Priced at Rs 12,500, this is an attempt by Micromax to target the aspirational and high end users who are interested in new gadgets. It also shows a change of strategy from Micromax to produce phones even in the high end segment and basically try to cover all the segments with their models.

One thing for sure, Foreign Multinationals who are already under pressure from local Indian mobile handset brands, have a tough job ahead in protecting their turf !

Thoughts ?

6 Comments

Click here to post a comment

  • modu is folding up? http://www.engadget.com/2011/01/14/modu-closing-up-shop-in-february/ in that case what happens to the micro max modu tie up..

  • Among Domestic players its a good company but when I see BlackBerry penetrating Indian Markets so awesomely MicroMax may have a reason to fear.. More over Nokia users would not very much like Micro Max..

  • I am having a most popular Micromax mobile phone – Q7. But it sucks a lot. They do have mentioned like Java support. But around 75% Jar files will not work in Micromax phones. It is just a chinese phone remodeled with some fancy plastic things. Wifi support sucks a lot. Even if I am sitting in front of my WIFI router, Micromax mobile simply shows that the wifi signal is very poor. May be micromax will be helpful for rural people who don;t want much in a mobile phone.

    • Yeah I have heard of many issues with Micromax phones. But then isnt that a subjective issue. Some people love it and some hate it. But the basic fact is that Micromax has turned out to be a gamechanger among the domestic players. And FYI as pointed out in the post, they are coming out with the IPO to set an Indian manufacturing facility.

Indian Startup Funding Investment Chart List 2016

Check out our Youtube Channel!

Reliance JIO Opens YEARLY RECHARGE! Get 120GB Data Free Now!

Great news for Jio Prime users. The BOGO offer which gave you 5GBs of data free for 1 month has not …

WOAH! Over 84% of JIO Subscribers Will Continue even After Free Offer Ends!

As the free trial of Jio’s free services under the Happy New Year Offer is ending, the market is r…

How to Get FREE AIRTEL 4G HOTSPOT DEVICE With New Offers!

Bharti Airtel has come up with two new special offers of Rs. 3,200 and Rs. 4,000 for the customers w…

JIO Takes Legal Action; Says OOKLA Falsified Airtel Speed Results!!

After Airtel started touting themselves being the "FASTEST MOBILE DATA NETWORK" in India with TV com…

Subscribe to Our Youtube Channel

who's online