Indian smartphone maker Micromax is reportedly foraying into the South African market as the company is looking to further bolster its international operations. It is expecting to contribute as much as 20% to its overall revenues by next fiscal.
Along with this, the handset maker is also looking at expanding its range of consumer durable products like television sets and smart accessories to Russia and Middle East.
Micromax, which is facing heavy competition from Samsung and Chinese players like Xiaomi, Oppo and Vivo, among others, in the Indian smartphone market, operates in Russia, Middle East, Nepal, Bangladesh and Sri Lanka.
“We will soon enter the South Africa market and have partnered Vodafone there. There is a big opportunity there, about 8 million devices a month,” Micromax co-founder Vikas Jain said.
He also stated that the company has already introduced its consumer electronics in the SAARC region and is looking at extending the range to Russia and Middle East markets.
India is one of the largest smartphone markets in the world and growing steadily. Smartphone shipments in India touched an all-time high of 42.6 million units in the July-September 2018 quarter, registering a year-on-year growth of 9.1% as per the research firm IDC.
Micromax plans to launch more smartphones in the coming weeks to strengthen its position in the Indian market.