Micromax today became the third largest handset player in Russia according to Counterpoint Research latest research from Counterpoint’s Market Monitor program, in Q4 2015 (Oct-Dec), Russia’s mobile phone market grew by 8% annually with a market share of over 9%
Micromax, which expanded its operations in Eastern Europe a couple of years ago, is now reaping the benefits of distribution and marketing as it captured the third spot for the first time ever with 9% market share.
“Russia has over the years been a key market for mobile phone manufacturers, having a halo effect for the performing brands in other countries within the region. While, the Russian economy shrank 3.7%, a sharp dip since the global crisis in 2009 and as the Ruble weakened, but the overall mobile phone demand was surprisingly good, up by 8% YoY. This uptick was driven by a rise in cheaper feature phone demand during the quarter; the smartphone market was flat compared to last year. This is an interesting reverse trend which signals the demand for better and more affordable mobile devices, filling the demand gap,” Peter Richardson, Research Director at Counterpoint research said.
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