Micromax Chairman Sanjay Kapoor has decided to resign from the Indian smartphone maker due to difference with the promoters on the company strategies.
Economic Times reported that Micromax confirmed about the resignation of Sanjay Kapoor.
He joined Micromax in June 2014 after working with Bharti Airtel as the CEO of the Indian telecom business.
The focus of Sanjay Kapoor was to create Micromax as a global brand, helping in its fund raising programs and expanding its software capabilities.
Micromax team headed by Sanjay Kapoor and CEO Vineet Taneja, former Samsung India mobile head, are yet to take Micromax to the top level as envisioned by its promoters. Micromax competes with Samsung and other aggressive smartphone players in India.
Micromax could not compete with Samsung in both smartphone and tablet markets.
Samsung, the Korean consumer electronics major, is leading the Indian tablet market in Q2 2015. Datawind is in the second position, while iBall is the third largest tablet vendor in Q2 2015, said CMR. Both Apple and Micromax are out of the top three list for top tablet vendors.
The smartphone share of Micromax was 14.8 percent in Q2 2015 against 24.6 percent for Samsung India.
“While Samsung’s share continues to be ahead of its nearest competitor, there could be some advances at second and third spot, primarily affecting Micromax if it does not devise and implement a more robust marketing strategy to grow its shipments. Me too strategies such as attempts to imitate niche Chinese players haven’t worked very well in favour of Micromax in the past – be it flash online sales, or other move,” said Faisal Kawoosa, lead analyst, Telecoms Practice, CMR.
Micromax could not go ahead with its IPO plans due to rough conditions.
Baburajan K
editor@telecomlead.com
