Who would have imagined that such a thing would be possible? Micromax surpassed global mobile giants, Samsung Electronics, to become the top mobile phone supplier in India in the second quarter of 2014 (capturing 17% of the market), according to a report by Counterpoint research.
And there’s more. Micromax also overtook Nokia in the same quarter to become the leading feature phone supplier and closed in on Samsung to become the second largest smartphone vendor. While the mobile phone market in India grew only by a modest 2% over the last year, the smartphone segment grew by a neat 68%. According to Counterpoint research, majority of the growth in the smartphone segment was driven by local and other Asian brands operating in the Indian market.
Indian brands have captured more than two-thirds of the total mobile phone shipments and more than half of the smartphone shipments. Globally, Micromax has also jumped rankings to become the tenth largest handset brand in terms of mobile phone shipment volumes. It will be interesting to keep an eye on the brand, to see how it expands beyond domestic markets.
Will Micromax become the next Xiaomi or One Plus? Tweet your thoughts @mansworldindia