Micromax has partnered with Oyo Rooms to make exclusive deals available on their handsets and integrate the online hotel booking app into its Android launcher. Micromax will also factory load the Oyo app on some devices. Micromax’s AROUND Steroid launcher app aggregates food, travel, shopping, cabs, news and weather information. The phone manufacturer claims to have 3.3 million monthly active users, however, the context for that usage is not known.
Last month, Micromax tied up with Visa to make Visa’s QR code based payment system mVisa available on Micromax devices through the native Udio app. Micromax and Transerv had entered into an agreement to integrate Udio in Micromax phones last December. In August, it launched its Canvas range of Smart LED TVs preloaded with Android.
In June, Micromax planned to start selling handsets in China next year, along with raising money in the next two years through either private investors or by going public. Note that Micromax’s share of the Indian smartphone market declined to 14.1% from 18% in Q4FY15 as compared to the same quarter the previous year, as reported by IDC.
Manufacturing in India
In April, Micromax inaugurated its manufacturing plant in Telangana where it would manufacture mobile phones, LED TVs and other electronics products. The company had outlined its plans to develop 3 manufacturing plants in the country at an expense of Rs 300 crore in December last year. Earlier this year, the company invested $15 million (along with other investors) in digital payments company TranServ.
Oyo Rooms funding
In July, OYO Rooms raised Rs 413 crore by a proposed rights issue of shares to its current shareholders, and was planning to buy back shares worth Rs 60 crore from some of its investors. This was done to provide “liquidity to the Shareholders. Additionally, the Buy-back would result in enhancing shareholders’ confidence.” OYO has been finding it difficult to get new investors. VentureNursery, its first investor, was looking to exit the company in April. In June, Oyo launched ‘OYO for Business’ for corporates and business travellers.