Mukesh Ambani, Chairman of Reliance Industries, is a formidable presence in the business landscape. Now, Rahul Sharma, co-founder of Micromax and husband of well-known actress Asin. A decade ago, Micromax made waves in the smartphone industry, even outpacing Samsung at one point. However, the company has struggled in recent years. Now, Micromax is gearing up to make a comeback, expanding into various sectors, including OTT. This sets the stage for a fresh competition with Mukesh Ambani's Jio in the near future.

Micromax 

According to media reports, Micromax is preparing to diversify into new business sectors. Rahul Sharma has revealed that discussions are underway with companies in China and beyond to advance their initiatives. They are developing a content app designed to integrate multiple OTT streaming services, aiming to significantly impact the content landscape. Meanwhile, Mukesh Ambani's Jio is already a major player in the OTT market, with its app offering access to numerous platforms, including a partnership with Disney+ Hotstar. As a result, Micromax is expected to face strong competition from Jio in this sector.

Leveraging new tech

Rahul Sharma mentioned that Micromax may also explore opportunities in the AI hardware sector, focusing on custom memory and storage solutions. They are in talks with a prominent memory chip manufacturer in Taiwan to facilitate this initiative. By leveraging new technologies, they aim to reduce costs and offer affordable services, crucial for remaining competitive in the market. Additionally, Bhagwati, Micromax's manufacturing branch, has acquired a mobile phone factory in Greater Noida, further strengthening their operational capabilities.

Joint ventures

Micromax is looking to partner with a well-known ODM (Original Design Manufacturer) in a joint venture to produce mobile phones, IT hardware, and automotive components, though no official confirmation has been made yet. Their goal is to enhance AI data centers by designing custom memory and storage solutions. Additionally, they may establish a research and development unit in India to support these initiatives.