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What is Micromax?
Headquartered in Gurgaon, Micromax is an Indian consumer electronics brand founded by Rahul Sharma and Rajesh Agarwal on March 29, 2000. The company was initially incorporated as an information technology software company. Later, it forayed into consumer electronics like mobile phones, tablets, televisions, washing machines, air conditioners, etc. The company also has a fully owned subsidiary named YU Televentures, which sells mobile phones under the YU brand.
Micromax started its mobile phones business in 2008. It was one of the first companies to introduce feature-rich phones at affordable pricing. The company initially focused on feature phones with big-capacity batteries for long on-battery time. Likewise, most of the company’s phones were touted to be designed and built for Indian consumers and their varied requirements. In 2010, the company also launched its first tablet device series, the Funbook. The company’s Indian roots and feature-rich offering in affordable segment worked in its favour, making it the leader in the country’s mobile phone market in 2014.
Like other Indian brands, Micromax lost its ground to Chinese smartphone players. As a result, the company shifted its focus to entry-level smartphones, or smartphones aimed at first-time buyers. The company was among the first to introduce a 4G feature phone, the Bharat 1, which was compatible with the Reliance Jio network. Besides, it also launched a number of smartphones under the Bharat series that were among the cheapest 4G phones in the market.
In 2018, Micromax and telecom major Reliance Jio bagged a Rs 1,500-crore order from the Chhattisgarh government. Under the project, Micromax had to distribute 5 million smartphones to women and students in the state. In 2019, Micromax forayed into the electric vehicle category and introduced the Revolt Intellicorp sub-brand to manufacture artificial intelligence (AI)-powered electric two-wheelers. Under the Revolt brand, the company launched the RV 400 electric bike.