Micromax plans to sell smartphones in China, go public in two years

India based smartphone maker Micromax in January 2014, forayed into the international market with launch Canvas Knight A350 in Russia. Now the domestic vendor plans to sell its smartphones in China, which one of the biggest smartphone market in the world after the U.S and India.

Micromax co-founder Vikas Jain at the Rise technology conference in Hong Kong said that the company aims to become the world's fift largest smartphone manufacturer by number of devices sold by 2020. Jain further mentioned that the brand can't do so without access to Chinese consumers and cash from a public offering.

Micromax also plans to go public in two years in two years to generate cash to fund the acquisition of companies that will help it build a network services for its devices in the fiercely crowded competitive markets.

For Micromax Selling smartphones in China and going public is an ambitious goal to boost sales in the country as it currently sells a little over a million smartphones per month. Micromax is India's second largest smartphone maker after Samsung, and third largest smartphone vendor in Russia. The company also sells its device in Nepal.

Recently, Micromax sub-brand YU unveled its latest flagship Yunicorn with top specs like 5.5-inch display, MediaTek Helio P10 SoC, 4GB RAM, 32GB internal storage, 13MP rear & 5MP front camera, 4000mAh battery and fingerprint scanner for Rs. 12,999 ($193), which allows it to compete better with Chinese smartphone vendors. 

Via