Micromax aims to make a strong return to the Indian business which may potentially compete with industry giants like Mukesh Ambani’s Reliance in both the OTT and AI hardware sectors.
A local company is stepping up to challenge the business empire of India’s richest man, Mukesh Ambani,. The company is Micromax, it is the same firm which had disrupted the smartphone market around a decade ago. During that time, Samsung had dominated the Indian smartphone landscape, later on Micromax emerged as a competitor and surpassed Samsung for a while. However the company could not sustain in the market against its competitors.
Micromax is now preparing for a major comeback in several new sectors, some of which may compete with Mukesh Ambani’s businesses.
Micromax Plan To Enter In OTT Market
According to a report from Economic Times, the company is working on a new content app that will have multiple OTT platforms. The company’s co-founder, Rahul Sharma, stated that Micromax is in talks with companies from China and other countries to push these new ventures forward.
Mukesh Ambani’s Jio, which is highly invested in the OTT market, may also face competition from Micromax. Jio already offers several platforms on its app and has made deals with Disney+ Hotstar, which is a key player in the Indian OTT space. Micromax’s entry into this sector can create a potential rivalry between the two companies.
Micromax To Venture Into AI
Micromax is also preparing to enter the AI hardware business. According to the same report, Rahul Sharma revealed that the company plans to introduce custom-made memory and storage solutions for AI data centers. For which, Micromax is in discussions with a prominent memory chip manufacturer in Taiwan.
Sharma also added that Micromax’s manufacturing arm, Bhagwati, has acquired Vivo’s mobile phone factory in Greater Noida. The facility will be used to manufacture mobile phones, IT hardware, and automotive parts through a joint venture with one of the world’s largest Original Design Manufacturers (ODM). However, he did not disclose the name of the venture.