Spreadtrum to invest in Indian handset maker Micromax

News Wireless Global 14 MAR 2012
Spreadtrum to invest in Indian handset maker Micromax
Semiconductor maker Spreadtrum Communications announced an agreement to invest USD 10 million in Indian handset maker Micromax. As a result it will also become one of Micromax's preferred chipset suppliers. Micromax ships over 4 million handsets per quarter and has grown to be the 12th largest phone manufacturer in the world. In addition to India, its phones are sold in Hong Kong, Bangladesh, Nepal, Sri Lanka, Maldives, the UAE, Saudi Arabia, Kuwait, Qatar, Oman, Afghanistan and Brazil. As part of the partnership, the two companies will work together on R&D to deliver new features across Micromax's portfolio of products. Micromax currently ships more than 60 models ranging from dual-SIM feature phones to 3G Android smartphones. The company started out as a developer of embedded software and e-commerce solutions in 2002, and entered the mobile handset market in 2008. It counts a number of venture capital firms as investors.

Categories:

Mobile

Companies:

Spreadtrum Communications,  Micromax

Regions:

Global

Countries:

India

Tags:

Cooperations & alliances, Wholesale, Handsets, Financial funding, Contract & orders, Research and development

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