Micromax is venturing into the white goods segment and plans to become a consumer electronics company in the next two years.As India’s second-largest handset maker is foraying into the air-conditioner, refrigerator and washing machine segment, it wants to disrupt the space with pricing.
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"We will remain an MNC challenger. We are a proven player fighting MNC smartphone brands for the past eight years with innovation and technology, and will continue with the same strategy for white goods. Pricing will be the icing on the cake, but not the cake itself. We will be a disruptor in consumer electronics space with product offerings and technology," Micromax Informatics cofounder Rajesh Agarwal told ET.
Micromax may face a stiff competition in the segment as other brands such as Whirlpool, Samsung, Voltas, Panasonic, Videocon and Godrej are also eyeing a big share in the market, which is led by LG.
"The market potential is huge since out of 100 homes which own a television, only five have an airconditioner. Next year, we will take it pan-India across both online and offline stores and expand the portfolio," he told ET.
Micromax is placing its bet on television, air-conditioner, refrigerators and washing machines.
"We were the first Indian brand to think of manufacturing four years back. We are in talks with various state governments who are offering us incentives to set up a plant for white goods," said Agarwal.