Micromax, one of India’s own smartphone brands vanished from the public’s hands for couple of years, chiefly due to dominance of foreign brands in the smartphone market.
The company’s co-founder Rahul Sharma took to Twitter recently and posted a video announcing the return of Micromax with their ‘In’ line of smartphones. In a video under 2 minutes, Rahul unveiled a box with the branding ‘In’ when talking about the comeback. But he did not give any details about the specifications/features.
What we know is that Micromax has plans to invest Rs.500 crore to expand its local manufacturing and Research & Development. “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,” Sharma was quoted saying.
Know for its affordable pricing, Micromax could do to the smartphone industry what Mukhesh Ambani’s Jio did to the Telecom sector – Absolute Market Disruption and Redistribution of Power. Jio is the reason for the average public to surf the web with 4G Speeds at a price that is cheapest in the world.
It is too early to imagine such offerings from Micromax, especially at a time when our nation’s economy is trying to recover. But this possibility is the bet many would wake and it is not an invalid hypotheses.
With Chinese smartphone brands losing at least a part of their major market share due to the ongoing India-China tension, this could be an opportunity for Indian players to make their presence felt.