Micromax

Topics: Mobile phone, Smartphone, Price Pages: 5 (1801 words) Published: September 8, 2013
1.Mission Statement
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Micromax, is the 12th largest handset manufacturer in the World (According to Global Handset Vendor Market share report from Strategy Analytics). The Indian brand is reaching out to the global frontiers with innovative products that challenge the status quo that Innovation comes with a price. With an in-depth understanding of rapidly changing consumer preferences coupled with the use of advanced technologies, Micromax has been able to differentiate itself from the competitors through innovation and design. We understand the pulse of the consumer and hence constantly invest into strengthening the product portfolio though R&D and innovative marketing strategies. Our Mission is to focus on innovation, design and using the latest technologies to develop products at affordable prices. Our product portfolio embraces more than 60 models today, ranging from feature rich, dual-SIM phones to QWERTY, touch-enabled smart-feature phones and 3G Android Smartphone's. We also lay special focus on the products to enhance the customer's overall experience with the device. Most of our products come with innovative packaging and bundled accessories. Globally, Micromax caters to a varied target audience having their focus majorly on the youth. Our overseas product portfolio is tailor-made to suit the needs and aspirations of our growing consumer base in the international markets.

2.Past and Present Strategy
______________________________________________________________ Today, Micromax aspires to have a presence in every smart device with a screen, which is the strategy behind its expansion into tablets and TVs. Last week, this column discussed about the secret sauce behind the electrifying rise of Havells, a dynamic company that has managed to carve a unique space for itself in the global electrical goods business. The focus of this week’s column is a much younger company, but one that could make the growth of Havells pale in comparison — albeit in a different industry — electronic gadgets. I am talking about Micromax — the brand that’s been giving the likes of Samsung and Nokia a run for the money, at least in India. Micromax is the 12th largest handset manufacturer in the world with presence in 14 countries. In India, it is No. 3 in the mobile handsets space behind Nokia and Samsung, is eyeing the No. 2 slot in smart phones and is already No. 1 in tablets! What more, recently, the company announced its launch of LED TVs aiming to shake up that segment as well. It is hard to imagine that Micromax has managed to achieve all this, considering that the company’s entry into mobile handsets space was only in January 2008. Prior to that, Micromax — founded in 1991 — was involved in myriad businesses such as distributing IT peripherals and PCO devices amongst others, but none of them managed to attain great scale. However, the wireless PCO business did sow the seed for the idea of diversifying into mobile handsets for the company’s founders — Rajesh Agarwal, Sumeet Kumar, Rahul Sharma and Vikas Jain. The first product, aimed at rural customers facing acute power shortage with a battery life of 30 days was a runaway success and as they say — there’s been no looking back since. From less than Rs 50 crore revenues just a few years back, Micromax expects to clock its highest revenues ever this financial year, in excess of Rs 2,500 crore. CORE MANTRA

Today, Micromax aspires to have a presence in every smart device with a screen, which is the strategy behind its expansion into tablets and TVs. A multitude of factors has helped Micromax achieve its current position, but product innovation at affordable price points has been the core mantra. Be it the launch of dual SIM phones, QWERTY phones, water-resistant models, attractive designs for women or a tablet for less than Rs 10,000, Micromax has managed to understand the pulse of the local customer...
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