Micromax has revealed that it is looking forward to start selling smartphones in China from next year, according to a latest report from Wall Street Journal.
Micromax co-founder Vikas Jain told the publication that the company aims to become the world’s fifth-largest smartphone maker by number of phones sold by 2020. He added that the company can’t do that without access to Chinese consumers and cash from a public offering.
This is not the first time Micromax is foraying into international markets as the company entered Russian markets in January 2014 and has became the third largest smartphone player in the country in February this year. Entering China will be a big deal for Micromax which is currently the second largest smartphone vendor in India. The company is facing a tough competition from Chinese handset makers like Xiaomi, Vivo and others.
Along with entering the Chinese market, Micromax will go public in two years in order to generate cash to fund the future acquisition of companies. Micromax recently revamped its brand and logo.