Domestic handset maker Micromax on Thursday said it aims to become the number one player in India in the smartphone category by Diwali on the back of excellent demand for its Canvas series.
“As per the IDC figures for Q2, we are at number two with 22 per cent market share and given the growth we are seeing in the phablet category (Canvas series), we are aiming to be the top player by Diwali, which is Q3,” Micromax Co-Founder Rahul Sharma told PTI.
According to IDC figures for Q2 of 2013, Micromax stayed at No 2 spot and crossed the 2 million units mark in shipments. “The vendor is banking on the wave of phablet-driven smartphone adoption and is pushing the Canvas range of devices with bigger screens and compelling imaging capabilities,” IDC said.
Mr Sharma said IDC data substantiates its success, considering the fact that the maximum growth in Indian smartphone category has happened 5 inch-6.99 inch category which has grown 17 times year on year and the phablet share has steadily risen to 30 per cent of the smartphone market in Q2.
Micromax has increased its share from 18.8 per cent in the last quarter to 22 per cent.
“Micromax has crossed the 2 million units shipment mark in Q2 2013 and is poised to be the number one smartphone player in India by Q3. We hope to surpass USD 1 billion in revenues with our innovative product strategy, strong distribution and marketing focused on the Indian youth,” Mr Sharma said.
“We hope to cross 2.5 million units marks by third quarter of this year,” he added. Without commenting on the number, Mr Sharma said the company will continue launching new devices in third quarter also.
“With the kind of growth we are achieving, our strategy is working in right direction and going forward, we continue to stick to it,” he added.
Mr Sharma said not only in India, the company is among the top three players in Sri Lanka and Bangladesh also and exploring new markets too.