Micromax plans to make all phones locally

STILL NOT PUBLIC: The investment would value Micromax, an unlisted provider of affordable smartphones that competes with South Korea's Samsung Electronics Co, at around US$5bil (RM18.29bil), the people said.

NEW DELHI: Indian consumer electronics firm Micromax Informatics will manufacture all of its phones in India by 2018, its co-founder said, as it shifts production from China back home, where costs are becoming cheaper. 

Rahul Sharma said with less than two-thirds of its products are assembled in India currently and full home production now made economic sense given rising Chinese labour costs and a growing network of local suppliers of components.