Micromax is attempting a comeback with a new lineup of devices under its 'YU' brand as the homegrown player looks to regain its hold in the hyper-competitive Indian smartphone market.
Micromax co-founder Vikas Jain said the Indian smartphone market has undergone a massive change in the last few quarters, especially after Reliance Jio launched its services in September 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 to the table to understand consumer needs and bring devices that are suited these requirements," he told PTI.
YU, which is a 100 per cent subsidiary of Micromax, launched a new device -- YU ACE -- priced at Rs 5,999 and will be available only online.
"We will have three more devices under 'YU' over the next few months," Jain said.
Once a leading player in the Indian handset industry, Micromax's started losing market share last year to Chinese players like Vivo and Oppo. These players were rolling out a multitude of devices and investing aggressively to woo Indian buyers.
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At the end of December 2016 quarter, Micromax had 8.8 per cent share of the smartphone market and ranked third after Samsung and Lenovo. However, in the following quarters, Micromax did not feature in the top 5 smartphone players tally.
The Indian smartphone market -- which is among the largest globally (33.5 million units were shipped in the June 2018 quarter) -- is currently dominated by Xiaomi and Samsung. The other leading players in the top 5 tally include vivo, Oppo and Transsion.
Talking about its latest launch, Micromax Chief Marketing and Commercial Officer Shubhodip Pal said YU ACE is a gamechanger in the sub-Rs 6,000 smartphone category.
"Our attempt has always been to democratise technology for the masses. We will continue to focus on innovation and create products that understand the needs of our consumers," he said.
The YU ACE features 5.45-inch display, 2GB RAM, 16 GB internal memory, 13MP rear and 5MP front camera and 4,000mAh battery.