At MIXiii: Indian Micromax has a deal for Israeli start-upsMay. 27, 2014
Micromax, the 10th largest mobile phone maker in the world, has a deal for Israeli start-ups that company CEO Vikas Jain hopes they can’t refuse. “We have a base of hundreds of millions of users all over Asia and sell about 3 million new devices a month,” says Jain. Start-ups with good apps don’t need to be bought out by Google or Facebook. “We promise to actively promote any Israeli app we partner with. You could make a lot more money than you would in a buyout.”
Jain revealed that Micromax was in “advanced talks” with an Israeli distributor for the sale of his company’s smart devices. Android-based, lightweight, with a 13-megapixel camera (front and rear), a 1.3 GHz quad-core processor and other smartphone-standard features, Micromax’s devices can compete with comparable offerings from Samsung, LG and others, but for much less money. “We expect to be able to sell on the Israeli market for $220, which I understand is considerably less money than what comparable phones are sold for here,” he said.
Micromax is looking for more than a new marketing channel as it enters Israel. Over the past week, business delegations from around the world were in Israel for a series of forums and events, highlighted by the Tel Aviv MIXiii 2014 conference, the largest tech event to be held in Israel this year, with many officials talking about how India and Israel could prosper by working together. The model Micromax is proposing, said Jain, is a realization of this concept, perhaps the first major opportunity for Israeli companies that are not in the defense or agriculture industries to take advantage of the huge Indian consumer market.
For the full feature story on The Times Of Israel click here.