Published 08:45 IST, August 18th 2020
Micromax prepares to come roaring back with new range of smartphones
Indian smartphone manufacturer Micromax is preparing to make a comeback with its new range of devices in India. Continue reading to get all the details.
- Tech
- 2 min read
Micromax is set to make yet another major comeback to the smartphone market after staying away from the headlines for quite some time now. The Indian smartphone company is planning to launch a slew of new smartphones over the course of a few months, where one of the first devices might launch as early as next month.
Micromax to benefit from government's PLI scheme
However, the mobile company is looking to gain support from the Production Linked Incentive (PLI) scheme of the government that has been specifically designed to incentivise companies to manufacture products in India, especially for exports.
Micromax’s co-founder, Rahul Sharma, recently confirmed in an interview with Business Today that the company is planning to launch a range of devices using the government's PLI scheme to compete against the major Chinese companies dominating the Indian smartphone market. The company is also set to invest around Rs 500 crores towards producing phones and conducting research and development activities.
The Indian government had announced the ambitious PLI scheme earlier this year which offers an incentive of four to six per cent for a period of five years on incremental sales over the base year of goods that are produced in the country.
Sharma believes that the scheme which will offer the company an incentive of four to six per cent on the incremental sales of goods can prove to be quite beneficial which will also help Micromax gain a competitive position in the market. He also added that close to 90 per cent of the market is for devices that are priced under ₹15,000. He emphasised that it’s something that also suits Micromax. He further explained that the company has the required infrastructure and production facilities which will be utilised to create the complete ecosystem of components within India in the coming years.
And while this may sound like a plan from Micromax to capitalize on the anti-China sentiments in the country, Sharma said that the company had been planning to make a comeback to the phone market for a long time. The smartphone company also posted a tweet on Independence Day teasing a comeback after a long absence.
Image credits: Micromax Info
Updated 08:45 IST, August 18th 2020