Micromax, Indian mobile manufacturing company, has decided to expand its operations and increase its manufacturing units in the country. As per IBNLive, Micromax will invest Rs 300 crore in India over the next few months to set up three new manufacturing units in Andhra Pradesh, Rajasthan and Telangana, company’s new units will start their operations by the next year to boost up domestic production and reduce dependence on imports from China.
Micromax co-founder Rajesh Agarwal told PTI. “We have been allotted 20 acres land in Telangana and the civil structure is almost ready. Similarly, in Rajasthan, we have got 25 acres land and construction will start in a few days. Tirupati will also start soon,”
“The intent is to manufacture in India. We see that as an industry by 2017, we will start making batteries and other components here in India. It will only mature in the future and I am sure we can export to other markets from India as well,” he added.
Presently, Micromax operates from an assembly unit at Rudrapur that manufactures around one million units and rest of the units are imported from China. The company has started it operations at Rudrapur unit in April 2014. Apart from mobile, it also manufactures tablets at this unit.
The Indian handset industry is poised to overtake the US as the second-largest market in next few years. According to research firm IDC, smartphone shipments in India grew 21.4 per cent in the July-September 2015 quarter to 28.3 million units, buoyed by a three-fold jump in demand for 4G-enabled devices.
Samsung was the largest player with 24 per cent share of the smartphone market, followed by Micromax (16.7 per cent), Intex (10.8 per cent), Lenovo Group (Lenovo and Motorola at 9.5 per cent) and Lava (4.7 per cent.)