Micromax announces new strategy, brand and investment

Micromax new strategy
Indian smartphone and tablet maker Micromax, which does not have a full time CEO at present, today announced its new strategies.

Micromax, as per Micromax 3.0 strategy, announced plans to make an investment of Rs 300 crore to set up three new manufacturing facilities across the country. It will create job opportunities for more than 10,000. CEO Vineet Taneja and Chairman Sanjay Kapoor left the technology major in the last 12 months. Micromax could not tap the IPO market to mobilize funds due to weak market conditions.

Micromax 3.0

# Targets to become the top 5 handset manufacturer globally
Aims to become the largest services company in India
India’s first indigenous phone manufacturer with 4 manufacturing plants by 2017 and 100 percent local manufacturing
Launches 20 new smart devices across smartphones, tablets and LED’s
Unveils new logo

The new brand presents Micromax as a company that is bolder, modern, agile and armed with a winning attitude to take on the global smart devices market. “The new logo is an evolution from the existing Micromax punch but a much more modernized version keeping in mind the global design language that appeals to the youth across the globe,” said Micromax.

Micromax announced its aim to be the first Indian company to build a complete services’ ecosystem to complement the seamless experience over 100 million connected devices by end of 2017.

The company announced a product enhancement of both its mobility and non-mobility segments. It will enter into newer product categories.

Micromax is the first Indian brand to be in the top 10 brands globally.

Rahul Sharma, co-founder of Micromax Informatics, said: “With our aim of achieving 100 million connected devices in the next two years, we want to make Micromax, the largest services company in India, consolidate our leadership position in overseas markets we are present as well as enter new markets.”

Micromax is looking to invest in passionate entrepreneurs who have built solutions, while its VAS division will focus on building an eco-system of content, applications, services and software experiences.

Vikas Jain, co-founder of Micromax Informatics, said: “One of our key focus areas in this journey will be to 100 percent make in India.”

Micromax has a plant at Rudrapur. It will be adding three more plants with an investment of Rs 300 crore as well as creating job opportunities for over 10,000 people by 2017. The company will have functional manufacturing units in Telangana, Madhya Pradesh and Rajasthan by 2017.

Image caption: From L-R Sumeet Kumar, Rajesh Agarwal, Vikas Jain and Rahul Sharma, co-founders at Micromax