Exclusive: Micromax Plans To Invest Rs. 100 Crores In Its AC Manufacturing Plant

After losing a chunk of its smartphone market share in India, Micromax will be now focussing on its consumer durable business. The company is now planning to invest Rs. 100 Crores in its Bhiwadi plant to manufacture ACs.

"We are looking at a fresh investment of Rs. 100 Crores in our Bhiwadi plant to manufacture AC," Rohan Agarwal, Director, Micromax told Gizbot in an exclusive interaction." Rohan also stated that the manufacturing will be operational in the next six months.

Talking about the company's future plans, Agarwal informed us that their first aim is to have a complete electronics segment. Further, he also revealed that Micromax is also planning to launch refrigerators by the end of next year.

As far as the revenue is concerned, the company, garnered Rs. 200 crores last year and in this year, they are expecting to grow overall business by 30 to 40 percent. The company's top man also said that the said growth would be primarily driven by the portfolio of their Smart TVs.

Meanwhile, the company has launched a new series of "Google-certified" Android TV starting at Rs.13,999. The newly launched smart TVs comes in four sizes i.e 32-inch (80 cms), 40-inch (102 cms) and 43-inch (109 cms) Android TV with an16:9 aspect ratio.

These Android TVs are enabled bywith Dolby Digital Sound. For connectivity, the TVs offer both Wi-Fi and Bluetooth.

Micromax has also launched its first-ever fully automatic top loading Washing Machine and it is available with a wash capacity of 6.00 kg, 6.5 kg, 7.00 kg, and 8.00 kg. One of its features includes sapphire crystal-shaped inner drum that helps with a better water flow. Other features are a magic filter, intelligent fuzzy logic function, and child lock mode.

So far, Chinese smartphone brands have captured 66 percent of the Indian smartphone market in Q1 2019. And, almost all domestic handset makers are looking for other options to compete with the brands rather than segment, like by launching audio products and other accessories. In case of Micromax, they seem to have joined the bandwagon by investing in the consumer durable segment.