At a point of time when stalwarts like LG, Motorola and Samsung were firming up plans to take on the market leader Nokia, a player called Micromax was born.

After the company has spent a considerable period in the hinterlands, it made the effort to grab the eyeballs of the urban consumer as well and guess what; it has turned up to be the third largest handset manufacturer in the Indian market, giving the biggies a tough run for their money in the domestic circuit.

According to the research firm, IDC Micromax is the third largest player in the GSM category with a 6% market share in the Indian market. Moreover, the Rs 1,600-crore brand sells close to a million units of its handsets taking cue from its network operating in more than 500 districts through 70,000 retail outlets.

While the company was busy in reselling hardware products since 2000 it was only after the founders decided to test waters in the handset markets. Undeniably, the move has paid off in a major way and it is widely believed that R&D and high level of innovation has played a big role in its success.