Domestic mobile phone maker Micromax, which aims to be the number one player in India’s smartphone market within the next two years, may launch anywhere between 36 and 48 new models a year. Most of the new launches will be in the sub-R10,000 segment.
At present, the company is the second largest smartphone maker, while Samsung is the market leader in this highly growing category.
“We want to be the clear number one in the smartphone category in the next one or two years. At present in this category we have an overall market share of 18% in value terms,” said Micromax Informatics chief marketing officer Shubhajit Sen.
In the smartphone category the total market size is 160-170 million units at various price points. In the mass smartphone market, defined as a subcategory with models priced under R10,000, Micromax is already at number one position with 25% market share. For the company, smartphones starts at R3,500.
“Mass smartphone market will continue to grow. So, we want to make sure that we will grow in this sub-category. That will be the bulk of our strategy, but at the same time a lot of consumers will be at the R10,000-R15,000 category. That is why a lot of products are being introduced in this sub-category as well. As we come up with more models in this sub-segment, we clearly see that our market share is growing,” Sen told FE. “If we can really grow our market share in sub-segment of R5000 to R10,000, and enter into R10,000 to R15,000, that will help us to gain the number one position in this market,” he pointed out.
The company currently has 20 live models. In the R10,000 to R15,000 sub-category, it has as many as five products.
According to Sen, the firm can launch three to four new models per month and that trend would continue for the next two years. “We think that we can launch anywhere between 36-48 models a year. Roughly, we can launch 3-4 new models in a month. Most of the models will be in the sub R10,000 category,”