Micromax planning to make a comeback in Indian Smartphone market with the fresh investment of Rs 500 crores towards manufacturing and research and development (R&D). Rahul Sharma, co-founder of Micromax, said the company would use the government’s production linked incentive (PLI) scheme to take on the Chinese brands
In a interview Micromax co-founder said “The scheme is very helpful. The incentive of 4-6 percent in incremental sales makes us competitive in the market. Almost 90 per cent of the market today is for phones less than Rs.15,000 so that suits us too. We have the infrastructure and manufacturing set up in place and over the next few years we will build the entire ecosystem of components within the country beginning with the software and then the hardware,” .
Sharma also said he is looking to regain its former glory in the market, and that it looks to launch multiple smartphones. “We know the pulse of this market and understand the sweet spots,” Sharma said.
Micromax planning to launch at least 20 new phones by the end of next fiscal.
Micromax tweeted a comeback teaser on Independence Day, asking viewers if they were ready to join the “revolution.” “73 years of independence or being in dependence?” asked in the teaser. In line with the tweet, Micromax plans to launch at least 20 new phones by the end of the next fiscal year, The first new smartphones will be launched by September end.
Will Micromax regain its former glory in the market?
Micromax was one of the biggest Smartphone players in India before Chinese brands came to India. Micromax had even surpassed Samsung in terms of market share in 2014 The company rapidly lost ground to the Chinese companies which offered superior products at a much lower price. Chinese brands also came in with big marketing and advertising budgets.
Now Chinese brands like Xiaomi, Oppo, Vivo, & Realme get large chunk of Indian smart phone market and offered very good Smartphone at very low price. It is not easy for Micromax to regain its past glory, but due to recent anti-China sentiment since the border clash earlier this year, opening the door for Indian brands to make a comeback.
Micromax learns from past mistake.
One of the main problems in Micromax Smartphone is that it does not get regular android update, but now Micromax claims it will make sure the phones from now get regular Android updates. So, we’re hoping the company has finally decided to use stock Android version. It says the Android cycle for each device will support for 2 years or more.We still don’t know whether the company is making its phones in India like some Chinese Smartphone makers.
