wordpress blog stats
Connect with us

Hi, what are you looking for?

Micromax Enters Maldives

Micromax has launched in the Maldives, in partnership with Sense Woods Maldives Pvt Ltd. The company is retailing 9 mobile handsets in the country including Android phones, music touch phones, QWERTY chat phones, dual SIM phones and utility phones, and has plans to launch service centers. The phones will be priced between 425 MVR (Maldivian Rufiyaa) to 4,500 MVR.

Reports suggest that MicroMax has withdrawn its Rs 426 crore initial public offering due to erratic market conditions. The company was planning to sell 10 % stake via public listings and had filed a red herring prospectus in September 2010. According to the report, the company decided to defer the proposed IPO to focus on product development.

Apart from expanding its physical presence, the handset manufacturer is also trying to extend its services as well. Earlier this July, the company had inked a deal with Nazara Technologies to embed 40 Electronic Arts (EA) game titles on select handsets available to users in a try and buy model. It  had also introduced a push mail service by the name of EzMail that is being made available with their Q80 handsets.

Micromax is primarily focused on budget phones and has reportedly incurred a revenue Rs 2,289 crore for FY-11. A Voice and Data survey states that Micromax is among on the top 10 handset manufacturers in India showing a growth of 43 % YoY and 6.3 % of Indian handset market share. Apart from India, the company has its presence in Hong Kong, Bangladesh, Nepal, Sri-Lanka, UAE and Brazil.

Related:
Micromax Partners With Nazara Technologies To Pre-Embed EA Games Titles
Micromax Launches Push Mail Service EzMail; Is There A Market?

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

News

The Delhi High Court on Monday refused to stop Amazon from pushing regulators to stop the sale of the Future Group’s businesses to Reliance...

News

Pine Labs has raised around $100 million in fresh funds from Lone Pine Capital, a hedge fund based in the United States, at a...

News

Restaurant aggregator and food delivery company Zomato has raised US$660 million (over ₹4,850 crore), taking its valuation to ₹3.9 billion. CEO Deepinder Goyal tweeted...

Uncategorized

Minister of Road Transport and Highways Nitin Gadkari said on December 17 that GPS-based tolling will replace toll plazas in two years, The Hindu...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2018 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to Daily Newsletter

    © 2008-2018 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ