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Business News/ Companies / Micromax goes for rebranding, targets new categories
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Micromax goes for rebranding, targets new categories

Micromax says it will expand its presence in the consumer electronics category by going beyond handsets, televisions and tablets

Micromax co-founder Rahul Sharma. Micromax was ranked number 10 globally by market research firm Gartner in a report dated March 2015. Photo: Pradeep Gaur/MintPremium
Micromax co-founder Rahul Sharma. Micromax was ranked number 10 globally by market research firm Gartner in a report dated March 2015. Photo: Pradeep Gaur/Mint

New Delhi: Micromax Informatics Ltd is rebranding itself and is looking to enter into new categories and launch new markets as the Gurugram-based company eyes a spot among top five global handset brands by 2020.

Micromax was ranked number 10 globally by market research firm Gartner in a report dated March 2015.

Micromax, which on Wednesday introduced a new logo and tagline—‘Nuts:Guts:Glory’—said it will expand its presence in the consumer electronics category by going beyond handsets, televisions and tablets. Though the company did not divulge further details, it said more products in the personal devices and home category can be expected.

Globally, a smart home or a connected ecosystem could include devices such as air purifiers, cameras, routers, sound systems, air conditioners, among others.

The company will invest anywhere from 1.5 crore to 2.5 crore to get the new brand positioning.

Micromax also plans to grow its international presence in markets such as Africa, West Asia and eastern Europe and CIS (Commonwealth of Independent States) countries, including in Armenia and Kazakhstan.

Micromax, which at present gets 10% of sales from four countries—Russia, Bangladesh, Nepal and Sri Lanka, is eyeing about 50% of revenue from markets beyond India by 2020.

The firm, which until now sold its smartphones via e-commerce platforms such as Amazon India, Snapdeal and Flipkart, launched its own e-commerce platform store.micromaxinfo.com on Wednesday.

The company will continue to work with third party e-commerce firms.

Micromax is also looking to manufacture all its devices in India by 2017 and is aggressively expanding its production capacity in the country.

“One of our key focus areas in this journey will be to 100% make in India. With an already functional plant at Rudrapur, we are now looking at adding three more plants with an investment of 300 crore as well as creating job opportunities for over 10,000 people by 2017," said Vikas Jain, co-founder Micromax Informatics.

Micromax plans a local production capacity of five million units a month by the year end from four facilities: three upcoming ones in Rajasthan, Telangana, Bhopal (Madhya Pradesh) and the existing facility in Rudrapur (Uttrakhand).

In a push to create its integrated hardware and software ecosystem, Micromax on Wednesday also unveiled 20 new smart devices, including smartphones, LED TVs and tablets.

“We are looking to touch 100 million connected devices or users within the next two years," said Rahul Sharma, co-founder at Micromax Informatics.

These new devices come integrated with a suite of services called “Around".

The suite of services was earlier available only on Micromax’s Yu brand of phones, but now the company is looking to incorporate it in all its devices. Micromax aims to sell 50 million devices in the current financial year.

Mint reported earlier in April that Micromax is focusing more on building its services ecosystem, which it expects will contribute the most to the company’s revenue by 2020.

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Published: 13 Apr 2016, 10:24 PM IST
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