In 2008, when mobile phones were still the hegemony of a few MNCs like Nokia and Samsung, a new company called Micromax started operations in India. Since then this Indian handset manufacturer has made a name for itself for 'feature rich phones for half the price of MNC brand products'.
Five years later, the company seems to have lost in its own canvas. In February this year, it launched the Canvas HD A116, which got a grand reception from Indian mobile consumers but they were at the receiving end since Day 1.
Potential buyers got the first shock when Micromax declared that the phone was sold out in the first hour of its launch. A month later, the company raised its price by around Rs 500 but even then it was unable to meet the demand. To top it all, retailers artificially raised the prices, sensing the lack of supplies of the phone.
Today the Micromax Canvas HD is being sold for Rs 16,500, whereas its best buy price is Rs 14,490, despite the fact that it was introduced for just Rs 13,999. This is perhaps the first time in the history of mobile phones that a company has raised its product's price even before it made its way to retail market and that too at a time when the market is flooded with a range of handsets.
Read on to know about the topsy-turvy journey of Micromax Canvas HD so far.
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