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In order to further bolster its international operations, Handset maker Micromax is foraying into the South African market. The company is expecting the global market to contribute as much as 20% to its overall revenues by next fiscal.
Micromax is also eyeing expanding its range of consumer durable products such as television sets and smart accessories to Russia and the Middle East.
The company is facing intense competition from Samsung and Chinese players like Xiaomi, Oppo and Vivo, among others, in the Indian market. It operates in Russia, the Middle East, Nepal, Bangladesh and Sri Lanka.
Vikas Jain, Co-Founder of Micromax, said, "We will soon enter the South Africa market and have partnered Vodafone there. There is a big opportunity there, about 8 million devices a month."
"The company has already introduced its consumer electronics in the SAARC region and is looking at extending the range to Russia and Middle East markets. Exports now are about 11 per cent of our revenues. We expect this to grow to 17-18 per cent or even 20 per cent next fiscal," he added.
