Home-grown smartphone company Micromax will soon be launching a new range of smartphones in India.
The company on Friday announced its plans to return to the Indian smartphone market with a new range of “In” smartphones.
The brand posted a video of Micromax co-founder Rahul Sharma announcing the company’s plans.
Micromax however, did not provide further details about the launch including a specific launch date.
‘Coming back soon’
Micromax India, on August 15, had uploaded a video across its social media handles stating that it will be “coming back soon”.
According to an ET report, Micromax’s Sharma had said that the company was planning to invest ₹500 crore on expanding local manufacturing. It will also invest in research and development (R&D). The brand is set to rival Chinese brands currently dominating India’s smartphone market backed by the government’s production-linked incentive (PLI) scheme.
Micromax was one of India’s leading smartphone brands before the arrival of Chinese brands that offered relatively superior products at a much lower price.
Centre’s initiative
The Centre, earlier this month had said that it had approved 16 eligible applicants under the Production-Linked Incentive (PLI) Scheme for large-scale electronics manufacturing including Micromax.
It is aiming to launch 20 new handsets by the end of next fiscal, reported Business Today.