Micromax was best known so far as the handset vendor which forced Nokia and Samsung to review their strategies for the entry-level market in India.Earlier this month, the company became the 12th largest handset manufacturer in the world, with one per cent share globally.
It has even moved ahead of Lenovo and is closing the gap with Sony Ericsson globally. Strategy Analytics tracks the world's 30 largest handset vendors on a quarterly basis.
That's great going for a company which made its international foray only last year and is now present in Philippines, Denmark, Bangladesh, Sri Lanka, UAE, Hong Kong, Nepal and Brazil.
Micromax also topped the micro vendor rankings, shipping four million handsets worldwide in the second quarter of 2011.
As per the Strategic Analytics report, the company cornered 8 per cent share in its home market India, ranking the brand just behind Nokia and Samsung in terms of volumes. Micromax grew 48 per cent annually.
Rahul Sharma, executive director, Micromax, says the company sells an average 1.5 million phones per month in most of the countries it operates in.
So what explains the success in a crowded marketplace? "Innovation and customisation", is the rather predictable answer from Sharma.
But the response from the market has been phenomenal indeed, an indicator that Sharma is indeed walking the talk.
The stores in Brazil, for example, ran out of Bling stocks within days of launch and it was enough proof of the fact that we had done our homework well about Brazilian users looking for style in their handsets," says Sharma.
What essentially worked for the Brazilian market was Micromax Q55's (Bling) design differentiation that uses Swarovski Zirconia crystals as buttons, packs in Yamaha sound, FM radio, and comes with pre-built social networking features.
The company reportedly invested around $12.5 million in the Brazilian market and has launched three new phones that sport features like dual SIM, multimedia and marathon battery to appeal to the youth market.
Micromax's USP in the rural market in India has been a 30-day battery back-up phone, a feature that was unheard of
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