Economic Times: Yu Televentures is taking a huge risk with its cheapest 4G smart phones with an expectation to sell more than 2 million handsets by the end of this year. Yu Televentures is owned by Micromax.
Co-founder of Micromax and Yu, Rahul Sharma said that the company will start offering more services which it has gotten hold of through strategic investments. He also threw some light on the progress of Yu Televentures and competition in the market along with its future investment areas.
In order to cater the needs of internet users and increase their number in total, Micromax owned Yu Televentures is looking forward to offer affordable devices which can empower it with good user experience. And Micromax is providing that opportunity to numerous people via Yu Televentures at a reasonable rate of Rs 4,999.
When it comes to 3G devices, Micromax has 70 million out of its 800 million wireless users. With its new 4G launch, Micromax is promising to offer 10 times faster speed of internet. Along with launching entry level smart phones, the company will maintain its focus on the developer community. In order to strengthen company’s focus more on the community, Rahul Sharma is looking forward to launch new devices to serve this purpose.
After selling more than a million devices in Indian market, the company is still hoping to sell up to half a million units of Yunique on Snapdeal before Diwali.
Further, Micromax is also planning to invest in the area of shopping, entertainment and Music. Company is already in advanced talks with startups who would be interested to work in these areas. The amount decided to be invested in these startups ranges between 0.5 million and 20 million dollars. Under it, company will be offering such services which would be integrating services of various companies. Investment after that would be focusing upon developing a complete network of services.
Micromax is still importing devices from China. By next year, it would make majority of its phones in India. Entire Yu range is being made in India.