Indian smartphone manufacturer Micromax Inc on Thursday unveiled its plans to sell mobile handsets in China by next years as part of the company's attempt to boost its sluggish sales and revenue in order to stay ahead of its competitors in the fierce consumer electronics market.

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Micromax, which is India's second-largest smartphone manufacturer, aims to become world's fifth-largest smartphone maker by year 2020. However, the company cannot achieve this lofty aim without access to China's burgeoning mobile market, Micromax co-founder Vikas Jain said at the Rise technology conference in Hong Kong.

Currently, Micromax sells little over a million mobile handsets ever month, which is far less than China's Vivo, currently the world's fifth-largest smartphone manufacturer. Vivo sells more than four million handsets per month, according to data furnished by International Data Corp.

Micromax's decision to tap into the Chinese market is reportedly due to a sluggish demand in the domestic market. The company is also suffering due to fierce competition posed by a host of Chinese competitors like Vivo, Oppo, Xiaomi and Huawei.   

However, analysts are not very optimistic about Micromax's success in China. Most analysts feel that the Chinese market is already oversaturated and finding success in such a tough, competitive and overcrowded market won't be easy.   

Analysts say that even a reputed company such as Apple is finding it difficult to flourish in China due to the fierce competition and its sales have been deteriorating substantially as compared to last year.

Currently, Micormax's overseas markets include Nepal and Russia, where it has managed to achieve a fair amount of success and has already become the third-largest mobile vendor in the country.

TagsMicromax, china, India, Micromax China, Vikas Jain