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Home News Micromax CEO departs as company loses marketshare in India

Micromax CEO departs as company loses marketshare in India

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Following a recent decline in marketshare in India, the CEO of Micromax has left the company. Micromax is India’s second-largest phone manufacturer, and previously held 21.7 percent of the marketshare in the country. In just one quarter, the marketshare fell down to just 13.2 percent for Micromax as the share for Samsung and Lenovo grew. WSJ reports:

Micromax’s share of the Indian market fell to 13.2% in the quarter ended Dec. 31 from 21.7% the previous quarter, according to research firm Canalys. Samsung’s market share grew to 26.1% from 22% over the same period. Meanwhile, Lenovo became the third-largest smartphone maker in India for the first time, accounting for 11% of the market.

Micromax has brought in a number of executives with industry experience, but so far none of them appear to be able to take the company to the next level.

Source: WSJ

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