As per the industry data, Micromax is the second largest players in both mobile phone and tablet PC market in India, PTI reported.
The company had 13 percent market share in total mobile phone segment and 16 percent in smartphone market in last quarter of 2013 as per market research firm IDC.
Micromax had 8.9 percent market share in Indian tablet PC segment which stood at 4.14 million units in calendar year 2013.
The company targets to almost double its revenue to $1 billion by end of financial year 2013-14 from revenue of Rs 3,168 crore in FY 2012-13.
The statement from Micromax is happening at a time when Telecom Equipment & Services Export Promotion Council said the current issues involving Nokia’s Chennai plant can bring down India’s telecom exports by 40 percent this year.
Nokia India is facing a huge tax burden and unable to amicably close the $7.2 billion deal with Microsoft to sell its mobile phone business. If Nokia cannot solve the tax issues, Nokia plant in Chennai will become an outsourcing unit for Microsoft.
According to data from Telecom Equipment & Services Export Promotion Council, telecom equipment exports from India declined about 7 percent to Rs 19,654 crore in 2013-14 from Rs 21,075 crore in the previous year.
Handsets account for more than half of the exports from India, dominated by Nokia. Mobile phone exports dropped to Rs 11,918 crore in 2013-14 from Rs 14,870 crore in 2012-13.
Nokia’s shipments from India were valued at about Rs 8,000 crore, as per TEPC data, which is about 40 percent of telecom equipment exports.
