Who wants a new phone? Visit the Micromax flash sale

Soon after Xiaomi has created ripples across the tech ambit for having sold 2.12 million phones in 12 hours, Indian mobilephone maker Micromax is also planning to walk the proven path. As per a report by The Economic Times, Micromax is introducing 'flash sale' to its online retail strategy as the country's second largest handset maker looks to maintain its break-neck growth rate and take competition such as Xiaomi and Motorola head-on.

Micromax chief Vineet Taneja told The Economic Times, the phone makers will offer exclusive products in different price ranges with online retailers Flipkart, Amazon and Snapdeal. Micromax has clocked 54% jump in its revenues for the year ended March 2015 at around 10,000 crore.

"Apart from creating a buzz, it (flash sale) also helps in planning our supplies better. It gives us an estimate of how much stock we have," Taneja added while speaking to the financial daily.

Micromax has recently launched Canvas Spark, a Rs4,999 smartphone, to be sold exclusively on Snapdeal through flash sales starting April 29. The company plans similar deals with Amazon and Flipkart.

However, the company will continue to sell its existing product portfolio across the online portals and through offline stores.

While this is the first time Micromax has not explored flash sale on its own , its subsidiary Yu Televentures holds flash sales of its Yu smartphone every Thursday and has sold over 200,000 units so far.

With the flash sale and tie-ups with eCommerce majors, Taneja said Micromax aims to extend its lead in the mass smartphone market, or sub- 7,000 segment, which is the fastest growing price segment.

The firm looks to maintain its 50% growth rate this fiscal year through new launches, online flash sales and by ramping up local manufacturing.

Taneja said contribution of the mass market segment to overall volumes had increased to 60% in January-March quarter, from 50% in April-June 2014. While the overall smartphone market grew 17% over this period, the mass market segment doubled, contributing 45%-50% by value, he added.

(Image: Reuters)