New Delhi, India, January 19, 2015 – MICRODIA Ltd(MICRODIA®), a world leader in flash memory technologies, continues to expand its presence around the globe with the opening of a new national sales office in India, located in Corporate Floors Ansal Plaza, Sector 1 Vaishali, Delhi NCR, Ghaziabad-201010, Uttar Pradesh (near Vaishali Metro Station). This new office will provide channel support, customer service, sales operations, technical support and product demonstrations services.
Committed to Growing the Business in India
"The new office represents our commitment to growing our business and competing in India through direct communication, technical support and enhanced training programmes," said Mr. Louis Leung, President and CEO of MICRODIA Limited. “This is an important step for MICRODIA as we advance in the Asian market. India is a major growth market. Savvy consumers invest in the latest technology and demand the best.”
Savvy Consumers
This knowledgeable market segment is familiar with, and grew up with, smart mobile technology. Approximately 75% of the total population is below 35 years of age, the majority of whom view full length films, TV series, video clips and UGCs on various Internet-connected smart devices.
Specialist Stores
Specialist electronics stores are the major retail points for savvy consumers. However, hypermarkets and online retail have been growing, according to Euromonitor International (www.euromonitor.com), although online shopping has yet to penetrate to all corners of the Indian market.
Third Largest Economy by 2030
Albeit, this market segment is a significant part of the drivers that are contributing to a growth potential that is predicted to catapult India into the position of the world’s third largest economy by 2030.
Broad Impact from Small- and Medium-Sized Companies
According to the Indian Industry and Department of Electronics and IT (DeitY), it is evident that large companies will enter the Indian market, but it is the small and medium-sized companies that have the potential to create a broader impact.
Further Market Information
According to Business Monitor International (BMI), India’s consumer electronics device adoption rate “means [we] expect it to be a regional outperformer over the medium term”. Total spend on consumer electronics in India is predicted to increase by 8.1% in 2015 to US$7.6 billion, and hit US$92.5 billion three years later in 2018.*
