Micromax was the second-largest smartphone maker in India in 2014. However, the prospects of indigenous companies in this sector dwindled since 2016 as they fell behind in producing 4G smartphones at affordable rates. Micromax’s prominence in the market suffered as the Chinese brands took the centre-stage.
Now, the Rahul Sharma-founded company is trying to make its comeback in the Indian smartphone arena with its “In” range of smartphones, Money Control reports. The details and features of Micromax’s new release are unknown so far. However, Sharma took to Twitter to brief the public about his organisation’s return to the market and their intention of competing with their Chinese counterparts.
The entrepreneur criticised the actions of the People Liberation Army (PLA) at the border and looked to sail in Prime Minister Narendra Modi’s vision of ‘Aatmanirbhar Bharat’. Micromax has also pledged to invest Rs 500 crore in expanding local manufacturing and research and development (R&D) operations for this purpose.
Speaking on the central government’s Production Linked Incentive Scheme (PLI), Sharma stated, “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.”
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