Micromax, India’s leading handset manufacturer, has decided to invest Rs 2,000 crore to expand its operations in more countries over five-six years. It is planning to expand in CIS countries, Africa and Iran.
Micromax targets 25 percent growth during 2016-17 to achieve revenues of Rs.15,000 crore. The revenue in 2015-16 was Rs.12,000 crore. The international operations contribute 8 percent to the company’s revenues.
Currently selling 2.5 million units per month, Micromax has 14 percent market share. The market size is 220 million units a year.
At present, it employs 700 people and will increase the number to 1,000 in next two months.