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Top phonemaker in India plans fund-raiser to beat Samsung

Micromax's Mr Taneja said that the company plans to secure 30 per cent of the Indian smartphone market by the end of its next fiscal year.

New Delhi

MICROMAX Informatics Ltd, the Indian smartphone maker threatening Samsung Electronics Co's lead in the world's second-largest market, plans to raise more capital to help it break away from foreign rivals.

The company is considering outside investment to develop locally