Micromax co-owner creates yet another phone-making company
Indian billionaire businessman, Rahul Sharma, popularly known as the co-founder of Micromax, the number one home-based brand in the Indian phone industry, has just carved out a new company.
What will be the function of Yu Televentures? Sharma said that his new company will focus on importing smartphones from China which will be sold in India under the company’s name.
The company was incorporated on November 5 this year and is entirely owned by the 40-year-old Rahul Sharma. The Micromax executive said that Yu was a name formed from the the Pinyin “romanisation” of several Chinese family names.
Sources say that Sharma began working on the idea since 2013 under the codename Project Yureka. The company didn’t state when it will start shipping their smartphones but another source told BestMobs that the new company will accommodate it’s offices under Micromax shelter for the time being, a statement Founder Sharma neither disputed nor agreed to.
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