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Micromax becomes third largest phone company in Russia, just one year after debut
Home grown brand Micromax on Wednesday announced that it had become the third largest handset player in Russia with a market share of over 9% in Q4 2015 (Oct-Dec). The numbers come courtesy Counterpoint's Market Monitor program.
The company grew more than 350% annually in the Russian market in the same period, according to the report.
"This is an exciting time for us at Micromax as we are a step closer to our vision of becoming the part of the top five handset players in the world. Russia has been one of our focus markets in the past two years and we have seen a great consumer acceptance for the brand in the market," Amit Mathur, Head International Business, Micromax Informatics said.
Also Read: 2016 a year of large
smartphone screens, videos: Micromax
The company is known for its affordable 4G and 3G smartphones in the domestic
market. It has been focusing primarily on affordable smartphones and the 4G segment in Russia as well. "With our focus on affordable smartphone segment, 4G and 3G, we will continue to work towards
consolidating our position in the Russian market," Mathur added.
The figures are particularly impressive as the company made its debut in the Russian market in January 2014 only. The Canvas Beat and Canvas Social were its first smartphones there. As per Counterpoint's Market Monitor program the mobile phone market in Russia grew by 8% annually and 27% sequentially during Q4 2015. Smartphone shipments remained almost flat registering a 1% growth annually in a market where close to sixty brands are competing for the top spot.
Moreover,
Micromax aims to break into world's top five, becomes Russia's third largest vendor | ET Telecom
@PARIKRAMA @Water Car Engineer @ito @nair @Abingdonboy @Ankit Kumar @Bornubus @Techy @jaiind @mkb95 @AMCA Echo_419 @kalyani @samlove @ranjeet
Home grown brand Micromax on Wednesday announced that it had become the third largest handset player in Russia with a market share of over 9% in Q4 2015 (Oct-Dec). The numbers come courtesy Counterpoint's Market Monitor program.
The company grew more than 350% annually in the Russian market in the same period, according to the report.
"This is an exciting time for us at Micromax as we are a step closer to our vision of becoming the part of the top five handset players in the world. Russia has been one of our focus markets in the past two years and we have seen a great consumer acceptance for the brand in the market," Amit Mathur, Head International Business, Micromax Informatics said.
Also Read: 2016 a year of large
smartphone screens, videos: Micromax
The company is known for its affordable 4G and 3G smartphones in the domestic
market. It has been focusing primarily on affordable smartphones and the 4G segment in Russia as well. "With our focus on affordable smartphone segment, 4G and 3G, we will continue to work towards
consolidating our position in the Russian market," Mathur added.
The figures are particularly impressive as the company made its debut in the Russian market in January 2014 only. The Canvas Beat and Canvas Social were its first smartphones there. As per Counterpoint's Market Monitor program the mobile phone market in Russia grew by 8% annually and 27% sequentially during Q4 2015. Smartphone shipments remained almost flat registering a 1% growth annually in a market where close to sixty brands are competing for the top spot.
Moreover,
Micromax aims to break into world's top five, becomes Russia's third largest vendor | ET Telecom
@PARIKRAMA @Water Car Engineer @ito @nair @Abingdonboy @Ankit Kumar @Bornubus @Techy @jaiind @mkb95 @AMCA Echo_419 @kalyani @samlove @ranjeet
