India's handset manufacturer Micromax Informatics has announced its entry into the UAE smartphone market, as it signs a partnership agreement with Tchannl.
Micromax lays an emphasis on democratising technology for the masses by manufacturing affordable smartphones. Now that it has entered a partnership with the telecom, IT and consumer electronics giant, its products, such as the ‘Bolt Series' will be available across the GCC and North Africa market.
Micromax aims to extend and solidify its presence in the region armed with in-depth market insights of Tchannl co-founders, Sandeep Saihgal and Ashraf Fawakherji. Plus it will benefit from Tchannl's relationships with key distributors, understanding of distribution networks, know-how on channel and retail management.
Rahul Sharma, co-founder, Micromax, said: "This region will be one of the key international markets for us after Russia. The market opportunity is huge and our large portfolio of devices will be able to cater the customer's need here. To start with, we feel our internationally successful range ‘Bolt' will charm the consumers and we are confident that Micromax will serve as a key player in the market. Our initial focus in the region is to replicate the success witnessed in our other markets in the last couple of years."
Ashraf Fawakherji, founder and managing Partner, Tchannl, added: "Our immediate goal will be to build a robust distribution network to capture a significant share in the market. We will be working aggressively to strengthen our presence in the retail space across key retail points. The brand equity of Micromax is very strong in the market and our focus will be to leverage that and plan a phased expansion."
Micromax's ‘Bolt Series' of smartphones has sold more than 20 million devices across the company's operating markets and it has estimated that the international operations will contribute nearly half of the company's total revenue in the next three to four years. The international business currently contributes about 20% of the total phones sold by Micromax annually, which presently stands at about 36 million.