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Micromax eyes billion dollar mark

Micromax eyes billion dollar mark

Buoyed by its success in the domestic market, handset maker Micromax is aiming high.  It plans to join touch the billion-dollar mark in revenues in the next few years.

Buoyed by its success in the domestic market, handset maker Micromax is aiming high.  It plans to join touch the billion-dollar mark in revenues in the next few years.

In a recent management rejig, the company has brought in senior executives from Airtel, HTC and Sony Ericsson to strengthen its position in the Rs 30,000 crore domestic handset market.

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Micromax clocked revenues of Rs 2,400 crore for the financial year ended March 2011.

According to a study, Nokia led the domestic market pie with revenues of Rs 12,929 crore in FY2010-11, while Samsung had revenues of Rs 5,720 crore.

India's mobile industry is growing at 12 per cent and Micromax had about 7 per cent share in India, in terms of revenue in FY11, according to a study.

In the near term, Micromax is looking at boosting its share to 10 per cent. The company is also looking at making further inroads in other markets such as Hong Kong, Bangladesh, Nepal, Sri Lanka, Maldives, UAE, Saudi Arabia, Kuwait and Brazil. (With PTI inputs)


Published on: Jan 02, 2012, 3:50 PM IST
Posted by: Surajit Dasgupta, Jan 02, 2012, 3:50 PM IST