Indian handset maker, Micromax, today became the third largest handset player in Russia with a market share of over 9% according to the latest research from Counterpoint's Market Monitor program, in Q4 2015 (Oct-Dec).
Accelerating its journey of becoming the part of the top five handset players in the world, the company grew more than 350% annually in the Russian market.
Commenting on its success in the Russian market, Amit Mathur, Head International Business, Micromax Informatics said, "This is an exciting time for us at Micromax as we are a step closer to our vision of becoming the part of the top five handset players in the world. Russia has been one of our focus markets in the past two years and we have seen a great consumer acceptance for the brand in the market. With our focus on affordable smartphone segment, 4G and 3G, we will continue to work towards consolidating our position in the Russian market."
Micromax had entered Russia in January 2014 with the launch of Canvas Beat and Canvas Social. The company has spearheaded the smartphone race in the Russia by focusing primarily on affordable smartphones and the 4G segment.
Overall the Russia mobile phone market grew by 8% annually and 27% sequentially during Q4 2015. Smartphone shipments remained almost flat registering a 1% growth annually.
Close to sixty brands are competing in the market currently and the company took the number 3 spot thrashing some of the major global players in the country.