Spreadtrum Communications Inc. and Micromax Informatics Limited ("Micromax") have announced a partnership to work together to grow the market for innovative, value for money handset products in India and other emerging markets. Spreadtrum is said to invest US$10 million in Micromax and become one of Micromax's preferred mobile chipset suppliers in connection with the agreement.
The two companies are supposed to work together through a joint R&D collaboration with this partnership to deliver feature-rich innovations across Micromax's portfolio of products. Spreadtrum will collaborate with Micromax on the development of new innovative products in order to gain major market share.
Rajesh Agarwal, MD, Micromax Informatics Ltd. said, "We focus on delivering innovation to the consumer at affordable prices, and our partnership and collaboration with Spreadtrum supports our objectives of feature customization to local needs, rapid time to market, and innovation on value for money platforms. The Indian mobile industry is growing at a rate of 12% per year, and partnerships such as this one will help us both capture the growth opportunity within India as well as expand our distribution to other countries."
Dr. Leo Li, President & CEO, Spreadtrum said, "Micromax's focus on unique, innovative features has allowed it to rapidly establish a leading position in the Indian and global handset market. Our mutual cooperation with Micromax will help us expand our reach in emerging markets and ensure that our R&D investments are closely aligned with the world's leading brands."
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