Micromax, smartphone sales stalled, eyes a steer into electric vehicles
Micromax Informatics once had a firm grip on the local mobile phone market in India, for a time passing stalwarts like Samsung, icons like Apple and many more to be the biggest handset maker of them all. But a mix of stronger (and cheaper) competition, coupled with the rapid pace of technology development and the ongoing market slowdown, have left it spinning. While some believe that it still has some life in it yet as a mobile brand, sources and filings point to something else: it’s eyeing up to step into mobility, specifically into the area of electric vehicles. But that change in gears is also coming with a lot of bumps. TechCrunch understands that the New Delhi-based company has axed dozens of jobs both at its headquarters in Gurugram as well as branch offices across the country, cutting into its ranks in sales, product, testing, R&D and logistics, and the rest of the business. Several top executives including the company’s chief business officer and chief product officer have also resigned in the last some …