Domestic electronics brand Micromax on Friday unveiled a new smartphone sub brand 'in' and will soon introduce a new range of products under the new sub-brand.
To begin the re-entry into the smartphone segment, Micromax plans to invest Rs 500 crore and will build products from ground-up for the new-age consumers in the country, the company said in a statement.
The Ministry of Electronics and IT last week approved several non-Chinese companies including Bhagwati (Micromax) for manufacturing of mobile phones in the country under the government's Production-Linked Incentive (PLI) scheme.
"We are delighted to make a comeback in the India market with our sub brand 'in'. When you have the word India or 'in' on you, it gives you a sense of responsibility," said Rahul Sharma, Co-founder, Micromax.
With the 'in' brand, "we will provide a bona fide choice that will allow consumers to edge ahead with high performance-oriented products, without infringing on their privacy," he added.
Micromax has manufacturing facilities at two locations -- Bhiwadi and Hyderabad. The brand has a capacity of producing over 20 lakh phones per month.
The brand is also working on strengthening its already established retail and distribution network.
Currently, the company has a retail presence in the form of more than 10,000 outlets and over 1,000 service centres.