SHANGHAI, March 14, 2012 /PRNewswire-Asia-FirstCall/ -- Spreadtrum Communications, Inc. (NASDAQ: SPRD; "Spreadtrum" or the "Company"), a leading fabless semiconductor provider in China with advanced technology in 2G, 3G and 4G wireless communications standards, and Micromax Informatics Limited ("Micromax"), one of the leading Indian mobile brands*, today announced a partnership to work together to grow the market for innovative, value for money handset products in India and other emerging markets. In connection with the agreement, Spreadtrum will invest US$10 million in Micromax and become one of Micromax's preferred mobile chipset suppliers.
Micromax, the 12th largest handset manufacturer in the world (According to Global Handset Vendor Market share report from Strategy Analytics), which ships more than 4 million handsets quarterly (same source), has built its leading position by focusing on delivering innovative, localized products at affordable prices. Micromax has an established sales presence across India and in Hong Kong, Bangladesh, Nepal, Sri-Lanka, Maldives, UAE, Kingdom of Saudi Arabia, Kuwait, Qatar, Oman, Afghanistan and Brazil.
With this partnership, the two companies will work together through a joint R&D collaboration to deliver feature-rich innovations across Micromax's portfolio of products. Micromax currently ships more than 60 models ranging from dual-SIM feature phones to 3G Android smartphones. Spreadtrum will collaborate with Micromax on the development of new innovative products in order to gain major market share.
"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," said Rajesh Agarwal, Managing Director of Micromax Informatics Ltd. "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.""Micromax's focus on unique, innovative features has allowed it to rapidly establish a leading position in the Indian and global handset market," said Dr. Leo Li, president and CEO of Spreadtrum. "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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