Home-grown handset maker Micromax Informatics Ltd., is planning to revive its sub-brand Yu to take on Chinese rivals such as Xiaomi and Oppo, said a top official.
“We are planning to relaunch our sub-brand Yu next year,” said Shubhodip Pal, chief marketing and commercial officer, Micromax Informatics Ltd. “It will come out with two products under Yu brand every quarter and it will be sold only through online.”
Stating that the Yu brand of products had a successful run in the initial phase but had to be taken out as it was eating into Micromax sales, he said: “This time, we will come out with a different product for different segments. We are working on the road map and details will be announced soon.
“At that time, we had a combined market share of 25.6%.
“Today, Micromax’s market share stands at sub 10% and our aim is to be ranked among the top three players in India.
While Micromax would cater to mass market while Yu will be for high-end [market],” he said.
To strengthen its market share in Tamil Nadu, Micromax announced a tie-up with Clix Capital Services Pvt. Ltd., a new-age lending company, to offer an in-store mobile financing programme, through Poorvika Mobiles, to customers who did not have a bank account or a credit card.
Two smartphones — Bharat 5 Pro and Canvas 2 Plus – would be offered on a down payment of Rs. 1 with zero interest EMIs.
“Based on the month-long pilot run, we are rolling out this scheme in Chennai city alone,” he said.
“In the 24 days starting from Friday, we plan to sell 17,000 handsets. Later, we might extend the product portfolio,” Mr. Pal added.
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