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Micromax targets 40 per cent growth by FY17


, country’s second largest handset maker is targeting a growth of 40 per cent by FY17. It is incessantly working on its online channel in order to boost up the sales from 15 per cent last year to 20 per cent in 2016-17.

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The country's second largest handset maker is looking forward to 40 per cent growth by FY17

Last year the domestic handset maker had entered a tie up with Snapdeal and Flipkart. The portals were used to launch their exclusive handsets under the Canvas range. Furtherance to this, they are also holding talks with other players like Amazon to launch new devices.

CMO, Micromax, Shubhajit Sen was quoted by PTI as saying, “Offline sales will grow 30-35 per cent, while online sales will grow 50-70 per cent. This should give us a blended growth rate of about 40 per cent for 2016-17,” For 2015-16, Micromax will close the year with nearly USD 2 billion (about Rs 13,297 crore) in revenues, he added.

“The target now is to take it to 20 per cent. This will be driven by introduction of new phones and focus on sub Rs 10,000 handsets as well as our beefed up online strategy. Last year, we started with our online strategy but still it was felt that there were gaps where Micromax was not present. This year, we will focus on bringing in smartphones in the sub Rs 5,000 category as well as  Rs 8,000 category,” Sen was quoted by PTI in saying.

When asked about the effect online sales would have on the offline, Sen said “There will always be a market for offline sales. While there are buyers online, there is also a huge chunk of people who still prefer to touch and feel the product before buying it,” as quoted by PTI.