Micromax to launch new Canvas smartphone on Monday

India’s second largest smartphone vendor Micromax will launch its new Canvas phone in Delhi on Monday.

This will be the first smartphone launch from Micromax after appointing Sanjay Kapoor as its chairman and Vineet as its new chief executive officer.

Micromax is expected to announce its strategies and expansion plans on Monday.

There are speculations that Micromax will be hitting the stock market with its much sought after initial public offering this year.

Samsung, the number one smartphone vendor in India — well ahead of Micromax —  is also gearing up for expansion in India to retain its smartphone market share.

Resignation of Vineet Taneja was a major blow to Samsung at a time when the Korean devices vendor is looking for new ways to sell more number of Galaxy S5 in India.