Micromax Forays Into Premium Smartphone Segment
Homebred handset maker Micromax has made its foray into premium devices segment with the launch of 4G smartphone Dual 5 priced at Rs 24,999. With this the company aims to capture 20-25 per cent business growth in the coming fiscal.
The launch is an attempt to counter competition from Apple, Samsung and Chinese players Oppo, ViVo and One Plus.
“Premium customers in the country need an option to buy something which is made in India, made for India and made by Indians. The Dual 5 will be made in India like our other phones,” Rahul Sharma, Co-Founder, Micromax Informatics was quoted in The Financial Express.
The company plans to roll out four to five devices in the Dual Series in the coming few months.
“We expect to gain higher market share in 2017. Micromax aims to achieve a 10 per cent market share in the premium smartphone category (priced above Rs 20,000) in 2017,” Sharma said.
“Our entry into the premium segment aims to further simplify the eco-system with a combination of hardware, software services, digital payments, customer service and more. We aim to increase our average selling price by 20 per cent in the year to come with new launches planned in over Rs 10,000, Rs 15,000 and Rs 20,000 categories,” Sharma said.
Micromax will soon launch two phones called Bharat One and Bharat Two which will feature integrated digital payments system. These features otherwise only offered in smartphones are aimed at the low-end market. The 4G VoLTE feature phone will be offered at a starting price of Rs 1,999.
“We are aiming to sell 5-6 million units of the upcoming Bharat 1 4G VoLTE (technology being widely used by Reliance Jio for phone calls) feature phone and Bharat 2 VoLTE smartphones in India over the next 5-6 months. The demand for these handsets is so high that our stock for next 4-5 months has been completely booked,” Sharma said.
“In Dual 5, we have same EAL 5+ security as a bank card, which is much more secure than the EAL 2+ security featured in other smartphones,” Sharma said.
Micromax is rolling out Bajaj Finance’s EMI scheme for Dual 5 and extended to other products in the Dual series. Dual 5 will be available on Flipkart and Offline from April 10 and offers a one-year replacement warranty of the screen.
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