Technological
With in-depth understanding of rapidly changing consumer preferences coupled
with the use of advanced technologies, Micromax has been able to differentiate
itself from the competitors through innovation and design. It took some 6 years
for this new company Indian company to enter the domestic TV market and win
this area with its great-selling devices. In less than a decade of existence in the
Indian markets this company was able to take the battle on with the tech biggies.
Samsung, Nokia, Apple and others with tons of experience and loads of smart
gadgets have been for a run for their market share. These companies also
introduced buyback schemes on their premium and budget products this year.
But due to its cheaper products Micromax had no worries as far as its products
were concerned.
Micromax Electronic product has high technology. Micromax always research and
makes for new features for the product. Every new product has new features,
better than the old ones and good design. SMART Television Micromax is the best
one of the best televisions now. It has a lot of features such as SMART
interaction, can access internet, can play games without controller, do not need
remote anymore, and we can also use our smart phone (Micromax).
Political Over the last couple of decades India has been the epicentre of consumer
demand fuelled by a phenomenal GDP growth. While demand increased across
all sectors, demand for high technology products, specifically electronic products
has registered significant growth and going by current estimates, the demand for
electronics hardware in the country is projected to increase from USD 45 billion
in 2009 to USD400 billion by 2020 (Source: Task Force Report).
The estimated production will reach USD 104 billion by the year 2020, creating a
gap of USD 296 billion in demand and production. This creates a unique
opportunity for companies like Micromax, which are in the ESDM (Electronic
System Design & Manufacturing) sector to look at India as their next destination
to cater to the domestic Indian demand as well as act as an exports hub.
Accordingly, the Government has initiated several initiatives for the development
of electronics sector in the country. The Government has recently approved
National Policy on Electronic (NPE). One of the important objectives of the NPE is
to achieve a turnover of about USD 400 Billion by 2020 involving investment of
about USD 100 Billion and employment to around 28 million by 2020. This
includes achieving a turnover of USD 55 Billion of chip design and embedded
software industry, USD 80 Billion of exports in the sector. Moreover, the policy
also proposes setting up of over 200 Electronic Manufacturing Clusters. Another
important objective of the policy is to significantly upscale high-end human
resource creation to 2500 PhDs annually by 2020 in the sector.
Several other policy initiatives have been approved in last few months. These
include providing very attractive financial investment in electronics
manufacturing and providing preference to domestically manufactured electronic
goods in all Government procurement as well as all those electronic goods whose
use has security implications for the country. To address the issue of
infrastructure, a scheme for Electronics Manufacturing Cluster provides 50% of
the cost of upgrading infrastructure and logistics as grant in aid from
Government.
Also to promote indigenous manufacturing of TVs, Basic Customs Duty (BCD) has
been reduced to 0% on the following:
Good-quality products.
Brand Image.
Price Comparison
Major Players
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Onida
Micromax