Atmanirbhar Bharat: Micromax Announces Comeback To Smartphone Market

CIOReviewIndia Team | Friday, 16 October 2020, 15:31 IST

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Today, Micromax announced its comeback to the Indian smartphone market for providing latest developed smartphones. Micromax posted a video on its social media handle, where the co-founder, Rahul Sharma said that it is reentering the smartphone space and unveiled the iN series at the end of the video, also sharing the company’s journey in the first inning.

Rahul Sharma said, ”Micromax had grown at a fast space and was among world’s top 10 manufacturers at one point. Then, it lost to Chinese smartphone manufacturers. When PM Narendra Modi asked the country to be self-reliant and gave a push to Vocal for Local, Micromax also found a new purpose.”

Rahul Sharma added, “Micromax will learn from the past mistakes and launch new products in India.” Thought the details about the first Micromax smarphone and its launching are not revealed.

Micromax also informed that it invested INR 500 crore for expansion to local manufacturing and research and development (R&D) operations while preparing the comeback to India’s smarphone market.

“The new PLI scheme balances out foreign and Indian players. The support of 6 percent is big and with the government support, we will be able to fight Chinese brands fiercely on the pricing front," said Sharma.

Micromax’s iOne Note smartphone, which was launched in October 2019, was the last launched and it wants to comeback and compete with the Chinese mobile manufacturers like Xiaomi, Realme, Oppo and Vivo.

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