The Best Time For Micromax To Make A Genuine Comeback?
The Indian smartphones manufacturer and consumer electronics company, Micromax has been teasing the launch of new smartphones in the Indian market through its social media handles. Micromax is set to host the launch event for the new smartphones next month (July, 2020). According to the social media handles of Micromax, the company is planning to launch three new smartphones, which includes one phone in the budget segment with "premium" features and "modern looks".
Micromax had launched their last smartphone in India in October, 2019 and had named it "iOne Note", with a price tag of ₹8199. Micromax stated that it has developed a new device and has promised that the new smartphone will have a modern look and will be budget friendly.
This latest development comes at a time when there's a growing online movement among the people of India to boycott the use of Chinese products, with hashtags like "#BoycottChineseProduct" and "#BanChineseProducts" trending on Twitter. This "anti-China" sentiment has evolved due to the clashes between the armed forces of the two Asian giant's, India and China.
However, it is to be noted that, Micromax has a history of selling re-branded Chinese smartphones in India. Even, Co-Founder Rahul Sharma established a sub-brand called "Yu Televentures" in December 2014 in which The phones were bought from Shenzhen based smartphone vendor "Coolpad", who later entered the Indian market to sell its products independently.
As the Indian smartphones market is one of the biggest and the fastest growing markets in the world, with the Top 5 brands in the segment holding around 75-80% of the market, it will be extremely difficult for Micromax to make a genuine comeback, even though it does seem to be the right time.
Micromax was once a leading player in the smartphone market in India. It even became the 10th Largest Smartphone Company, globally in 2014. However, the company lost its significance after the introduction of Chinese smartphone manufacturers like Xiaomi, which rolled out new 4G Smartphones that proceeded faster than expected.
As hoped by many, Micromax is expected to make a comeback in the Indian smartphone market soon, with some new upgraded products which hopefully will not disappoint the Indian consumers. Having a "Made in India" sentiment associated with the company, the soon-to-be launched smartphones are expected to attract a lot of buyers.