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Seems like <keyword id="71696" type="COMPANY" weightage="60" keywordseo="Micromax">Micromax</keyword> is picking up the cream of the crop on its way to become the largest Mobile player in the country. After inducting Vineet Taneja from <keyword id="10591" type="CITY" weightage="40" keywordseo="Samsung">Samsung</keyword> as its new CEO, Micromax has picked up Airtel’s <keyword id="3799" type="PERSON" weightage="40" keywordseo="Sanjay-Kapoor">Sanjay Kapoor</keyword> as the Chairman of the board (with immediate effect). The duo are quite a competent team and can take the Micromax’s business to new levels. Sanjay has vast experience in the mobility sector and is one of the best persons around to fit the chairman’s shoes. 
 
Announcing the new Chairman, <keyword id="13079" type="PERSON" weightage="40" keywordseo="Rahul-Sharma">Rahul Sharma</keyword>, Co-founder of Micromax Informatics Limited said, “We are glad to have Sanjay to be a part of Micromax's promoter group and on our board as the new Chairman. Sanjay is one of the most respected professionals in the Indian corporate world and has been instrumental in building some of the most successful technology brands in the country over the past three decades. I am confident that he will be able to provide required strategic direction to take our billion dollar business to the next level of growth and expansion.” 
 
With this appointment goals of Micromax are becoming more evident. They are up for some serious business, not just in mobility sector, but in other technology areas such as flat screen TV’s as well. Hopefully, we get to know more about their production plans in India soon, which just might change how others see India electronics productivity sector.

Sanjay Kapoor Becomes the Chairman Of Micromax India

Not all’s well at <a href="http://www.businessinsider.in/searchresult.cms?query=micromax">Micromax</a>. Insiders at company suggest that the chairman of Micromax <a href="http://www.businessinsider.in/searchresult.cms?query=Sanjay+Kapoor+">Sanjay Kapoor</a> has put in his papers. Kapoor, who had joined the company just more than a year ago, resigned because of his growing differences with promoters. 
 
 While the Indian born handset maker didn't elaborate on the reasons of Kapoor’s resignation, the company in an email to The Economic Times has said, "Appropriate announcements will be made in due course. We would like to thank him for his contribution and wish him luck for all his future endeavours." 
 
 Discussions are underway regarding the financial terms of his exit, one of the sources revealed. When <a href="http://www.businessinsider.in/Sanjay-Kapoor-Becomes-the-Chairman-Of-Micromax-India/articleshow/36110042.cms">he joined in June 2014</a>, Kapoor had been entrusted for making Micromax a global brand, helping it raise money and boost its software capabilities. His primary tasks included focussing on new products and grow on areas such as data, access, storage, analytics, applications and content, apart from devices. 
 
 "Differences regarding these and more have been rising over a period of time. But now they have reached a point that they can't be reconciled," sources disclosed to the financial daily. 
 
Kapoor, a former <a href="http://www.businessinsider.in/searchresult.cms?query=Bharti+Airtel+">Bharti Airtel</a> chief executive for India and South Asia, is also a director at PVR and Bennett, Coleman &amp; Company Ltd. 
 
 
 At the time Kapoor joined, Micromax also hired Samsung India mobile head Vineet Taneja and another Bharti Airtel veteran Badal Bagri to power growth and build a bigger brand before an initial public offering (IPO). Taneja and Bagri remain firmly entrenched in the company, the people said. 
 
 The IPO plan included bringing in strategic investors to fuel Micromax's next phase of growth. That involved likely funding from a consortium led by Ant Financial Services Group, China's leading online financial services company that owns <a href="http://www.businessinsider.in/searchresult.cms?query=Alipay">Alipay</a>. This is also said to be going slow, because of the outgoing chairman and the promoters not being on the same page and also due to differing valuation expectations. The four founder promoters - Rahul Sharma, Rajesh Agarwal, Sumeet Kumar and Vikas Jain - own a little less than 80% of the company. Micromax had announced plans two years ago to enter Russia by the end of 2013 and other European countries subsequently. It has a negligible presence in Russia and hasn't gone further afield, although it has ventured into parts of South Asia. 
 
 
Its efforts to invest in app makers with the aim of becoming a services company rather than just a mobile phone vendor and its launch of youth brand Yureka have been helmed by cofounder Sharma. Micromax is also a licensee for the emerging Cyanogen mobile operating system. 
 
 
 Being on top after a tough fight, Micromax has dropped to second position in terms of market share, which is 17%, as per an IDC data.

Micromax chairman
Sanjay Kapoor resigns?

Bollywood actress <keyword id="6355846" type="General" weightage="100" keywordseo="madhuri-dixit" source="Orion">Madhuri Dixit</keyword> Nene is all set to make her digital debut with the <keyword id="4118279" type="General" weightage="20" keywordseo="Netflix-series" source="Orion">Netflix series</keyword> 'The <keyword id="3124162" type="General" weightage="80" keywordseo="fame-game" source="Orion">Fame Game</keyword>', which is slated to release on February 25. 'The Fame Game' also stars <keyword id="3799" type="General" weightage="20" keywordseo="sanjay-kapoor" source="Orion">Sanjay Kapoor</keyword>, Manav Kaul, Lakshvir Saran and Suhasini Muley, Muskkaan Jaferi. The story revolves around Bollywood icon Anamika Anand, who has it all but is her life perfect or a perfectly crafted facade. 'The Fame Game', formerly known as Finding Anamika, will take us into the world of superstar Anamika played by the evergreen, ever-gorgeous Madhuri Dixit Nene! Produced by Dharmatic Entertainment, the series marks her streaming debut. 'The Fame Game' brings together Sri Rao as the showrunner and writer and Bejoy Nambiar and Karishma Kohli as directors. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/air-indias-control-to-be-handed-over-to-tata-group-today/articleshow/89149336.cms">Air India's control to be handed over to the Tata Group today</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/electric-car-shipments-likely-to-grow-50-in-2022-says-a-new-gartner-report/articleshow/89151369.cms">Electric car shipments likely to grow 50% in 2022, says a new Gartner report</a>

Madhuri Dixit's debut OTT series 'The Fame Game' to release on February 25 on Netflix

<keyword id="127875" type="PERSON" weightage="100" keywordseo="Vineet-Taneja">Vineet Taneja</keyword>, who served as the CEO of India’s second-largest handset maker Micromax, has reportedly resigned from his position after working for them for two years. 
 
"Vineet has moved on to pursue other interests. We would like to thank him for his contribution and wish him good luck," a Micromax spokesperson said in an emailed statement. 
 
The Gurgaon-headquartered company is yet to announce the name of the person who would succeed Taneja as the company’s CEO. 
 
Taneja, who was earlier associated with Bharti Airtel, Nokia, and Samsung India had joined Micromax in July 2014. 
 
In the past few quarters, there have been quite a few movements in the company’s top level. While in August last year, Chairman Sanjay Kapoor had stepped down, January saw Vikas Thapar being appointed as the Senior VP (Finance). 
 
<a href="http://media.indiatimes.in/media/content/2014/May/vineet_taneja_main_article_3_1401084166_540x540.jpg">Image source</a>

Micromax’s CEO, Vineet Taneja quits

<keyword id="71696" type="COMPANY" weightage="100" keywordseo="Micromax">Micromax</keyword> has come a long way. They knew the exact science behind the mobile business, as the starting partners at Micromax were Mobile distributors for a big international chain before this. <keyword id="13079" type="PERSON" weightage="80" keywordseo="Rahul-Sharma">Rahul Sharma</keyword>, the main face behind the excellent work the Micromax team has done in the recent few years, has been taking the company to the next level. 
 They brought in <keyword id="10591" type="CITY" weightage="80" keywordseo="Samsung">Samsung</keyword>’s Vineet Taneja and Airtel’s <keyword id="3799" type="PERSON" weightage="100" keywordseo="Sanjay-Kapoor">Sanjay Kapoor</keyword> on board to further cement the business. Micromax knew what to do, when to do, how to do and with a bit of luck managed to streamline everything to take on world giants. Here are our 4 big takeaways from the splendid performance of Micromax in India. 
 
Cricket is the pulse of the nation 
What else do Indians love besides their daily cup of tea and ‘masaledaar’ food. No points for guessing, it is cricket. The sport is the pulse of the nation and Micromax heads knew that from the word go. They started spending hard on the sport and became title sponsors in many national and international cricketing tournaments where the Indian cricket team would participate. 
 
This was an instant hit for them and people could recognise the brand. The viewership of the game is sky high and the Indian mobile maker took full advantage of it. The statement Micromax is building products for the masses, was heard loud and clear. 
 
Spend hard, make it big It is all about money baby. We have heard the phrase in so many Hollywood and <keyword id="143" type="CITY" weightage="100" keywordseo="Bollywood">Bollywood</keyword> movies. Micromax uses its money well and they know who the right partner for them is. One can see advertisements from them left, right and centre. Whether it’s the daily newspapers, gadget magazine and website, you are most likely to find a Micromax commercial on them. Cricketing events, large scale hoardings and more, they did it all. Micromax played the money game well. 
 
Price is the key factor 
If a product is not priced well it generally does not sell. Micromax is building its phones in China, but they do some of its R&amp;D in India. They make sure they give the best at the right price. High-end mobile instruments under the 20K bracket was one of the first seen by Micromax. The budget smartphone game was fuelled by Micromax and for a price sensitive market like India, they sure did hit the nail hard on its head. 
 
Tier 2 and Tier 3 are talk of the town 
While most mobile makers thought of metros and big cities. Micromax went further. A major chunk of the Indian population stays in the Tier 2 and Tier 3 towns. They made sure in the last few years to capture that part and bolster themselves in each and every home. Micromax has become a household name in small towns of India. We have seen Micromax phones in remote corners of the country and these towns supply a lot of cash to the company. Makes sense for others to head there as well.

4 Big Takeaways From Micromax In India

Mukesh Ambani-led <keyword id="6354504" type="UNKNOWN" weightage="20" keywordseo="Reliance-Jio">Reliance Jio</keyword>’s Happy New Offer, rolling out free data and voice calls, is likely to hurt data revenue growth of top incumbent operators-Airtel, <keyword id="6354923" type="COMPANY" weightage="20" keywordseo="Vodafone-India">Vodafone India</keyword> and <keyword id="41511" type="CITY" weightage="20" keywordseo="idea">Idea</keyword>. 
 
It is expected that Reliance Jio’s new offer would hurt its rivals by a minimum 15-20% fall in data tariffs. 
 
Nitin Soni, director at rating agency Fitch, told ET Jio's decision to keep its free services offer running for nearly seven months is unprecedented, which is bound to continue the bruising impact on incumbents. 
 
"I see the 'continuing Free Jio' effect causing data tariffs to plunge by at least 15-to-20 % over the next 12 months, and Ebitda margins of top telcos falling by at least 150-to-200 bps over the same period,” Soni told ET. 
 Meanwhile, <keyword id="15491" type="COMPANY" weightage="100" keywordseo="Airtel">Airtel</keyword>'s former chief executive Sanjay Kapoor told ET top three incumbent carriers should raise their game and redesign key voice and data plans. 
 
“While Jio has managed to sign up over 50 million customers on the back of free services being offered, one will have to see whether Jio is able to retain them once the free services end,” Merrill Lynch stated.

Reliance Jio’s new offering of free voice calls and data is likely to bruise Airtel, Vodafone India, Idea

Former <a href="http://www.businessinsider.in/searchresult.cms?query=Micromax+chairman+Sanjay+Kapoor">Micromax chairman Sanjay Kapoor</a>, who was pushed out of the company post, has threatened to take legal action against the firm and its directors. 
 
In the wake of allegations by the company that he misappropriated <a href="http://www.businessinsider.in/searchresult.cms?query=Ministry+of+Corporate+Affairs+">fuel bills</a> and counter-allegations by him that it had cooked up a malicious story to deny him his stock options, he was forced to resign. 
 His resignation letter to the <keyword id="71696" type="COMPANY" weightage="100" keywordseo="Micromax">Micromax</keyword> board revealed the depth of the acrimony between the two parties and belies the narrative that his parting had to do with differences over strategy. 
 
The letter dated July 27 was among documents submitted by the company to the <a href="http://www.businessinsider.in/searchresult.cms?query=Ministry+of+Corporate+Affairs+">Ministry of Corporate Affairs</a> and uploaded on the ministry's website. It also refers to an earlier letter by Micromax promoter <keyword id="13079" type="PERSON" weightage="40" keywordseo="Rahul-Sharma">Rahul Sharma</keyword> on July 10. 
 
The July 10 letter from Micromax promoter Rahul Sharma terminated Kapoor's services forthwith because he presented for payment and got cleared large amounts of money towards fuel expenses. While the exact amounts were not revealed, Kapoor has in his letter denied that he ever claimed any fuel expenses and calls the entire issue a ruse to deny him his stock options. 
 
According to him, Micromax had an arrangement with a fuel station and all bills were presented by it to the company directly and no question, therefore, arose of him presenting and getting payments cleared. 
 
"By no stretch of imagination it can be stated that I have misappropriated any amounts as no amounts were paid to me for fuel expenses. There were no cash transactions involved," he said. 
 
Instead, he has claimed the sole motive for the July 10 letter was to "illegally" deprive him of his stock options. 
 
"The valuation of the company has increased due to my efforts. I have successfully got the commitment of huge investment in the company the fruits (of) which the company has already started to reap," he said in his resignation letter in which he also called his <a href="http://www.businessinsider.in/searchresult.cms?query=Ministry+of+Corporate+Affairs+">termination</a> "arbitrary" and unreasonable. 
Micromax is in the middle of a fundraising round which has now hit a roadblock. 
 
At the time of joining Micromax in June 2014, Kapoor, a former chief executive officer of <a href="http://www.businessinsider.in/searchresult.cms?query=Bharti+Airtel+">Bharti Airtel</a> for India and <keyword id="52011" type="CITY" weightage="60" keywordseo="South-Asia">South Asia</keyword>, had been promised over 1% of the company in stock options. 
 
The board of Micromax acknowledged Kapoor's resignation in a meeting held on August 1 and employee stock options issued to him were revoked the same day. 
 
The letters show a complete breakdown in relations between Kapoor and Micromax's founders, and make clear that his exit had less to do with differences over strategic vision. 
 
The company earlier said he had "decided to move on" and thanked him "for his contribution and wish him luck for all his future endeavors". In his resignation letter, Kapoor said he had lost faith in the company's board of directors and no self-respecting person would continue as a director in a company where "ethics and truth are not complied or adhered to". 
 
(Image: Indiatimes)

Micromax’s Rahul Sharma has big reasons to worry now. His former Chairman threatens to drag him to court

On the first day of <keyword id="6354504" type="UNKNOWN" weightage="100" keywordseo="Reliance-Jio">Reliance Jio</keyword>’s commercial launch, outlets did not have the time to breathe as crowds thronged shops to get their 4G SIM cards and avail the welcome offer. 
 
Retail shops went out of stock as thousands queued up outside Reliance Digital and Xpress outlets for free 4G SIMs from early morning. 
 Banking on this wave, <keyword id="3820" type="PERSON" weightage="20" keywordseo="Mukesh-Ambani">Mukesh Ambani</keyword> may extend his welcome offer beyond January 01, 2017, which will also help him in extending the consumer base and shoot up volumes. 
 If this happens, Reliance Jio’s rivals <keyword id="6354287" type="CITY" weightage="20" keywordseo="Bharti-Airtel">Bharti Airtel</keyword>, <keyword id="15492" type="CITY" weightage="20" keywordseo="Vodafone">Vodafone</keyword> India and <keyword id="6354924" type="PERSON" weightage="20" keywordseo="Idea-Cellular">Idea Cellular</keyword> will have to face tough time and announce attractive plans to retain their loyal customers. 
 
As per industry experts, it is likely that other telecom operators will also slash data and voice call rates. 
 
Ambani, during his AGM, had announced free voice calls for life. 
 
"Its free voice calls and dirt cheap data tariffs offer might not seem sustainable in the long run, but one mustn't forget that Jio derives its strength from RIL's balance sheet, and can easily treat its pricing model as a business development cost to poach quality customers from incumbents over a period of time," an analyst told ET. 
 
Ex-Airtel CEO Sanjay Kapoor told ET Jio's future tariff strategy "is contingent on how many quality customers it acquires by January 1" and how soon it's able to sort out traffic imbalances and reduce potential interconnect payouts to incumbents.

Reliance Jio may extend its free welcome offer as crowds go into frenzy

How to read Kumar Mangalam Birla’s letter to the government

Sanjay Kapoor, the newly appointed Chairman of <keyword id="71696" type="COMPANY" weightage="80" keywordseo="Micromax">Micromax</keyword>, says that the company needs a holistic change to evolve from a handset-maker to one that satiates the growing appetite for data. According to the former Airtel India <keyword id="5645" type="POSITION" weightage="40" keywordseo="CEO">CEO</keyword>, Micromax could expand to wearable devices and machine-to-machine products in its next phase of growth even though it is gearing up to become the country’s top <keyword id="1844156" type="POSITION" weightage="40" keywordseo="smartphone-player">smartphone player</keyword>. 
 The homegrown phone-maker hopes to go deeper into the Indian and the global markets with Kapoor’s induction as the new chairman. Earlier, he had been instrumental in the growth of <keyword id="6354287" type="CITY" weightage="40" keywordseo="Bharti-Airtel">Bharti Airtel</keyword>, a telecom behemoth. 
 
The former Airtel India CEO decided to join Micromax as the company's motto of ‘democratizing technology’ resonates with his thinking and the work he had done in the past, wherein he helped deploy technology at a mass scale to render connectivity to millions of people. 
 
“After Airtel, I wanted to create something out of my experience. It is an obvious fact that data is now the new emerging market. I wanted to focus my energies on creating and building a solid platform which would be able to participate and contribute immensely to this growth area. Micromax is very well positioned to be able to play this role,” said Kapoor. 
 
Kapoor also claimed that data is the most potent platform of connectivity now. However, its proliferation is at a very nascent stage. He also asserted that data growth has to happen over the five pillars of access, storage, analytics, application and content, and finally, devices. According to him, Micromax will be intensely focusing on these five areas. 
 
As the company is at the cusp of looking at new markets, Kapoor said it’s too early to disclose any specific action plan. However, the company wants to go beyond handsets and is keen to focus on other products such as wearable devices and machine-to-machine products. 
 
“At present, we are focusing on Russia, our newest foray. We received a great response and once we are settled there, we will plan which other markets to enter,” he said. 
 
Kapoor also specified that the company believes in democratizing technology and will not operate at a niche level just for a very small customer base. 
 
Micromax has recently launched Unite 2 smartphone in India at a price of Rs 6,999. The USP of this smartphone is that it will support 21 languages including English, Hindi, Marathi, Telugu, etc. 
 The smartphone features a 1.3 GHz quad-core processor, 1 GB of RAM, and 4 GB of internal storage, which can be expanded by up to 32 GB. It is also the first smartphone by the company to offer the latest <keyword id="6355645" type="COMPANY" weightage="40" keywordseo="android">Android</keyword> KitKat 4.4.2 out of the box. The Unite 2 smartphone will be available in 4 colors – grey, white, red, and green.

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