Amid strong anti-China sentimental all across the country, India’s indigenous smartphone manufacturer Micromax has decided to make a come back and regain the market that it lost to Chinese companies some five years ago. In a approximately two minutes long video on twitter, Micromax co-founder, Rahul Sharma opened his heart about the company’s rise as country’s top manufacturer and then fall due to Chinese brand flood in Indian market.
Referring to Chinese aggression at border, Sharma in his video message said, “what happened at the border, that wasn’t right. I thought a lot. And now whatever I do, I will do for India.”
Through the video, he launched the new brand of smartphones by Micromax named, ‘IN,’ which supposedly stands for India.
— Micromax India (@Micromax__India) October 16, 2020
Speaking to PTI, Micromax co-founder Rahul Sharma said there is a huge demand for smartphones made by Indian companies and that has gained more traction after the recent Indo-Chinese tension.
”In” brand phones will be manufactured at the company”s two facilities in Bhiwadi and Hyderabad that have a capacity of 2 million units a month. Micromax is also working on strengthening its retail and distribution network. It currently has a retail presence of more 10,000 outlets and over 1,000 service centres across India
“Our new ”in” brand is not just aimed at cashing in on the sentiment…We wanted to come back with a complete strategy, backed by feature-rich products…we will invest Rs 500 crore over the next 12-18 months in R&D, marketing and sprucing up manufacturing,” he said.
Once a market leader, Micromax lost its position to players like Xiaomi, Oppo and Vivo as these Chinese giants captured the Indian market with their aggressively priced smartphones and massive marketing spends.
However, supply chain disruption due to COVID-19 and growing anti-China sentiment, Chinese smartphone brands saw their market share in India fall to 72 per cent in the June 2020 quarter from 81 per cent in the preceding three months (as per Counterpoint Research).