Micromax challenging Xiaomi Redmi Note 3, Meizu M3 Note, LeEco Le 1s Eco with new smartphone on May 16
Micromax challenging Xiaomi Redmi Note 3, Meizu M3 Note, LeEco Le 1s Eco with new smartphone on May 16Reuters

Micromax will soon become a strong contender in the budget premium smartphone race in India, where players like Xiaomi, Meizu, LeEco and others have marked their territories with price-worthy handsets. According to BGR India's sources, the India-based smartphone manufacturer is expected to launch a new smartphone priced under Rs. 9,000, joining the league of Xiaomi Redmi Note 3, Meizu M3 Note, LeEco Le 1s Eco and others.

Sources have informed the publication that the new handset, the name of which is undetermined, will feature a 5.5-inch display, an octa-core processor and 3GB RAM. If the information is correct, the budget premium smartphone in the existing Canvas portfolio will be officially launched in India on May 16.

Given the rumoured handset's hardware configuration and a sub-Rs. 9,000 price tag, it will be a great deal for shoppers as compared to the existing options such as Xiaomi Redmi Note 3 and LeEco Le 1s Eco, which are priced above Rs. 10,000, and even Meizu M3 Note, which costs Rs. 9,999. Further details on the new Canvas smartphone are pretty sketchy at the moment.

Micromax has been revamping its growth strategies and aims to become one of the leading brands globally and rank among the top five players by 2020. Last month, the company redesigned its logo, introduced a new tagline, "Nuts, Guts and Glory", and an e-commerce store. The company has since then launched a series of new devices, including the Canvas Spark 2 Plus, Canvas Mega 2, Canvas XP and most recently, the Canvas 6 smartphone.

While Micromax is preparing for the launch of a new Canvas smartphone, its online subsidiary, YU Televentures, is gearing up for a major release. YU Yunicorn, the 2016 flagship successor of last year's Yutopia, will be launched on May 19, three days after the budget Canvas smartphone is unveiled. The Yunicorn smartphone is expected to "redefine flagships" with competitive price tag and new features.

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