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Micromax co-founder Launches a new electric bike venture

6Apr By NitishNo Comments

Automobile

Micromax co-founder Launches a new electric bike venture

India's leading handset maker Micromax co-founder Rahul Sharma launch a new electric motorcycle which is expected to hit the roads by June this year. Sharma has set up Revolt Intellicorp Pvt Ltd, a firm wholly owned by him with a view "to make personal mobility practical, affordable and sustainable". He is investing total around Rs 500 crores in this venture. Headquartered in Gurugram, Revolt Intellicorp has a manufacturing facility in Manesar, Haryana. Spread over 1 lakh square feet, the facility boasts a production capacity of 1.2 lakh vehicles per annum for first phase. "I always wanted to get into the smart mobility sector. I had even met many global players to foray into the segment. During this period I even considered investing in some of the existing companies that were ...

Handset Maker Micromax to Foray into the South African Market

17Dec By Gauri SinghNo Comments

Tech

Handset Maker Micromax to Foray into the South African Market

Indian smartphone maker Micromax is reportedly foraying into the South African market as the company is looking to further bolster its international operations. It is expecting to contribute as much as 20% to its overall revenues by next fiscal. Along with this, the handset maker is also looking at expanding its range of consumer durable products like television sets and smart accessories to Russia and Middle East. Micromax, which is facing heavy competition from Samsung and Chinese players like Xiaomi, Oppo and Vivo, among others, in the Indian smartphone market, operates in Russia, Middle East, Nepal, Bangladesh and Sri Lanka. "We will soon enter the South Africa market and have partnered Vodafone there. There is a big opportunity there, about 8 million devices a month...

Micromax to Make a Comeback in India with its Subsidary ‘YU’

1Sep By Gauri SinghNo Comments

Tech

Micromax to Make a Comeback in India with its Subsidary ‘YU’

The Indian smartphone maker Micromax which became dormant in the Indian smartphone market due to decreased demand, after the entry of Chinese players like Xiaomi, Oppo etc in the mid-range smartphone segment, is now attempting a comeback with a new lineup of devices under its 'YU' brand. The homegrown player is now looking to regain its hold in the hyper-competitive Indian smartphone market. Micromax co-founder Vikas Jain stated that the Indian smartphone market has witnessed an extensive modification in the last few quarters, especially after Reliance Jio launched its services in 2016. "From low connectivity, the country is now among the highest consumers of data globally. And with that, consumer preferences for devices have also evolved. So, over the past few quarters, we went back t...

28Apr By Lavina TolaniNo Comments

Tech

Oppo Planning to Launch Sub Brand to Take Over Xiaomi in India

Chinese Smartphone Manufacturer Oppo has begun assembling printed circuit boards (PCB's) at its maiden second plant in India and is also planning to launch a sub-brand aimed at taking over arch contender Xiaomi, which is currently the leading player in the Indian market. Just a few weeks ago this month, Xiaomi had announced its own new manufacturing facilities including a PCB assembly unit to be used for its new sub-brand which is tentatively expected to launch next month. And now, rival Oppo too has revealed its plan to set up 50 million phone production capacity plant and PCB assembly. Levi Lee, Chief Product Officer at Oppo's new brand said, We have conducted a thorough research among online young consumers in last six months and have found that customers are more incli...

Micromax Invests in All-In-One App ‘One Labs’

20Mar By Sheldan RungasamyNo Comments

FUNDING

Micromax Invests in All-In-One App ‘One Labs’

Micromax invested in a consumer technology and AI based start-up ‘One Labs’ who manufactured a product ‘inOne’ allowing users to access apps across different categories including food, shopping, travel, deals, cabs, news, recharge, games, etc… ‘InOne’ is the star product of One Labs and presently regroups over 50 apps in a 10 mb program. Some apps come pre-installed in 'inOne' such as Flipkart, Amazon, Snapdeal, Zomato, Ola, Uber, BookMyShow, Housejoy, Nearbuy, UrbanClap, etc… The app serves the purpose of saving up device storage by installing only one app instead of downloading 20 apps for 20 different purposes. The app is very helpful to save internal storage and is perfectly tailored to meet the needs of Micromax’s budget smartphones. ‘InOne’ will also gain advantage of the 1...

Micromax and Panasonic Have Partnered With Reliance Jio For 90 Days Free Voice, Data Service

25Aug By AdityaNo Comments

News

Micromax and Panasonic Have Partnered With Reliance Jio For 90 Days Free Voice, Data Service

Micromax and Panasonic have partnered with telecom services firm Reliance Jio to provide free voice and data services for 90 days to smartphone buyers. Reliance Jio, which is expected to roll out commercial services in the coming months, has similar offers running in partnerships with Samsung and LG. "Under the terms of the Jio Preview Offer, consumers who purchase Micromax 4G smart devices will get Reliance Jio 4G SIM to get complementary access to unlimited HD Voice, Video calling, unlimited SMS, unlimited High-Speed Data services, and access to Jio Apps," Micromax Chief Marketing Officer Shubhajit Sen said. Micromaxs subsidiary YU also said buyers of any YU smartphone will get free voice and data services in the trial period with immediate effect. Panasonic India has also annou...

Micromax Said Will Earn Money In India and Burn Money in China

4Jun By AnkitaNo Comments

BUSINESS

Micromax Said Will Earn Money In India and Burn Money in China

India’s home-grown mobile phone giant Micromax is looking east. Micromax Informatics has successfully seen off Chinese rivals on its home turf, which is now being hailed as the world’s most important smartphone market. But to realize its lofty ambition to be a top five global handset maker by 2020 the Gurgaon-based company will also need to sell in China. That’s exactly what Micromax plans to do, Co-Founder Vikas Jain revealed during an on-stage conversation at the RISE conference in Hong Kong. India’s smartphone market is rapidly catching up with its larger neighbour. Shipments grew 135 percent in the two years until December, five times the rate of growth in China, according to data from IDC. Micromax, which churns out over 30 new handset models a year and also makes tablets and tel...

Micromax May Invest Rs 2,000 cr in Next 5-yr

15Apr By NitishNo Comments

BUSINESS

Micromax May Invest Rs 2,000 cr in Next 5-yr

Micromax, country's second-largest handset maker is likely to invest around Rs 2,000 crore in the next five years in manufacturing and new product lines, its co-founder Rajesh Agarwal said today. He said the company is expected to clock Rs 15,000 crore revenues during the current fiscal. It recorded Rs 12,000 crore revenues last year. "We are planning to manufacture accessories such as batteries, chargers here in the country. The backward integration will happen in a period of next five to six years. I think over next five to six years we will be investing Rs 2,000 crore on complete manufacturing activities," Agarwal told reporters here. The new manufacturing facility of Micromax was today inaugurated here by Telangana IT Minister K T Rama Rao in presence of state Transport Minister...

Vivo Invests Rs 125 Crore For Manufacturing Unit In India

22Dec By Press Trust of IndiaNo Comments

News

Vivo Invests Rs 125 Crore For Manufacturing Unit In India

Betting big on the booming smartphone demand in the country, Chinese handset maker Vivo has set up a manufacturing and assembling facility in India with an investment of Rs 125 crore. Located at Greater Noida, the unit has a maximum production capacity of one million devices a month. "The unit will cater to the manufacturing and assembling of Located at Greater Noida, the unit has a maximum production capacity of one million devices a month. "The unit will cater to the manufacturing and assembling of vivo smartphones, creating more jobs and decreasing vivo's dependence on imports," the company said in a statement. The firm, which has been present in India for a year, has invested about Rs 125 crore as its first phase of investment in the 30,000 The firm, which has been present in Ind...

Micromax invests in Scandid, a mobile product and savings discovery platform

7Oct By AnkitaNo Comments

News

Micromax invests in Scandid, a mobile product and savings discovery platform

In world's top 10 mobile makers, Micromax announced a strategic investment in Scandid, a mobile product and savings discovery platform. The Scandid app helps customers compare prices and discover discounts across top e-commerce and local retailers, helping them make informed choices. The Scandid investment further reinforces Micromax's foray into application services and building an integrated mobile ecosystem. (more…)