Home-grown mobilephone maker Micromax Informatics Ltd., plans to launch anywhere between 36-48 new smartphone models in a year, mostly priced below Rs 10,000 a handset, as the company aims to become the number one player in the next 2-years. Micromax is currently the second-biggest smartphone maker by sales, while Samsung Electronics 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 Shubhajit Sen, Chief Marketing Officer at Micromax Informatics told The Financial Express.
About 16-17 crore units of smartphones are sold in India every year. Within this market, smartphones priced under Rs 10,000 is sub-categorised as mass market. Micromax is already the largest seller in this category with about 25% market share. The Gurgaon-based company sells smartphones starting at Rs. 3,500 per handset.
“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 Rs 10,000-Rs 15,000 category” Sen told FE. “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 said if Micromax can grow its market share in the sub-segment of Rs. 5000 to Rs. 10,000, and make a dent into Rs 10,000 to Rs 15,000 smartphone segment, “that will overall help us to gain the number one position in this market.”
The company currently has 20 smartphone models on sale, and among them five are priced between Rs 10,000 to Rs 15,000 sub-category.
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. Some models will be super-duper success, some may not. So the churning of the product portfolio will continue. Roughly, we can launch 3-4 new models in a month. Most of the models will be in the sub Rs. 10,000 category,” he added.