India still sells only as many phones in a year that China sells in a quarter. Also, India's average selling price (ASP) of smartphones at $132 is almost half of China's.
Micromax did not comment on plans but said India’s largest home-bred handset maker was striving to be part of the top five club in the world.
The company has entered international markets including Russia, where it is No 3, facing stiff competition from Lenovo, Vivo, Oppo and Xiaomi in India.
This is the first time regular consumers will get access to the Jio 4G network, following the company opening it up for employees late last year.
"It is not late… every year Indian smartphone market is growing 10-20% while global markets are flat. We’re not in a hurry, but we should be different," Wan said.
This lack of a clear definition has the government concerned about the element of discretion being used by officials in deciding which company qualifies as ‘cutting-edge.’
The new mobile phone, launched Tuesday and priced at Rs 12,999, will be available only on Flipkart, India’s largest online retailer, for a month through the flash-sale model starting June 7.
The wallet is backed by Udio, owned by Transerv, which has also enabled the wallet for Micromax smartphones. This is the first phone which has a native mobile wallet.
Trai also wants the industry to share on the policy or regulatory approach India should have in dealing with issues related to net neutrality.
"Nokia has made no investment in HMD and will hold no equity. Nokia will have no-one in the business and no-one will transfer from Nokia to HMD."
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