Micromax mulling outside funding ahead of software push

Micromax mulling outside funding ahead of software push

24 MAR 2015

Indian device maker Micromax is apparently looking to raise cash in order to invest in software and product differentiation, according to Bloomberg, as it looks to bolster its position in the competitive market.

According to the report, the company is “considering outside investment” in order to boost its software proposition. Vineet Taneja, the company’s CEO, said: “It will be critical to differentiate ourselves through something beyond hardware. The internet services space does require money because it requires investment, new capabilities and strategic partnerships.”

Reports last month indicated that the company has been in touch with potential partners including Alibaba (China) and SoftBank (Japan), and that it is looking for a full strategic partnership. A full sale of the business is apparently not ruled out either.

Micromax and Samsung are embroiled in a battle for top-spot in the Indian market, where pricing is a key factor for device success. With a number of local and international rivals also focusing significant attention on the market, competition is already fierce.

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Steve Costello

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