Indian Smartphone manufacturer Micromax is all set to make its comeback after a gap of two years. It couldn’t survive the competition presented by its Chinese rivals. The supply chain was controlled by Chinese smartphones which also considerably dwindled the cost of mobile devices in India. The official Twitter handle of Micromax announced the news today and I’m sure fans are super excited.
The homegrown smartphone brand will use the ‘Atmanirbhar Bharat’ for a grand re-entry in the Indian mobile phone market. At the end of the video uploaded on Twitter, a sky blue box can be seen with a big ‘In’ logo on top of it. It could be the firm’s smartphone range, which is also said to be short for ‘INdia.’
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Rahul Sharma, the co-founder of Micromax, said “Everybody was looking to Chinese phones because they were coming down heavily on pricing. If you can get revenues up to Rs. 10,000 crore than Rs. 600 crore comes straight to your bottom line. I think this is a great cushion that has been provided to all the Indian companies, that will help us to fight these guys.”
Micromax is planning to keep its phones in the ₹7,000 – 10,000 to ₹20,000 – 25000 price segment. This will be applicable to online and offline retailers. Sharma added, “We will only come out with performance-oriented products. You won’t see phones worth ₹3000, 5000 from Micromax anymore. Whatever features Chinese brands are giving, we’ll give it the same price point or at a better price point.” The new phones will be launched next month with similar or better pricing, as compared to Chinese brands.
The firm also confirmed that it will invest ₹500 crores to expand its local manufacturing and research and development operations to make a re-entry to the Indian mobile phone market.