Micromax To Setup Manufacturing Facility In Hyderabad
Micromax on Thursday opened its new manufacturing facility which will have the capacity to manufacture one million mobile phones per month.
The unit, which opened at Fab City, currently employs 700 people and will increase the number to 1,000 in next two months.
Spread over 19 acres, this is the second manufacturing plant of Bhagati Products Ltd in India.
The company made an initial investment in the unit which also has provision for expansion to manufacture LED TV and other electronic equipment in the future.
Recently, the company announced a complete overhaul of its market strategy to arrest stalling growth in smartphones. The company intends to ramp up domestic production to achieve its 100% ‘Make in India’ plans and reduce dependence on imports. Dubbing the new strategy as ‘Micromax 3.0’, it unveiled a new logo and brand vision to drive agility.
As part of its new strategy, Micromax announced 20 new smart devices across smartphones, Tablets and LED TVs. Going forward it will focus on catering to different price points for all its products.
Micromax is the only Indian smartphone brand to make it among the top 10 global smartphone brands. It boasts the third spot in Russia, within two years of its entry. By 2020, Micromax eyes to be among the top five globally in the smartphone segment.