I can understand that at present hardware manufacturing is difficult in India but we have good software developers. Chinese manufacturers started with reverse engineering but now they are doing some really cool product innovation by spending more on research and development. The mistake that micromax, lava, karbonn etc. did is they simply sold rebranded phone without any long term vision. I think they never thought that the same chinese companies from whom they source their product will one day come and take their market share.I hope at least Smartron will not repeat the same mistake. I recently read that Xiaomi is going to file an IPO in Hongkong stock market which some analyst say will value the brand at $100 billion. While revenue from their phone business is not good since they sell phones dirt cheap, they will collect user data and integrate their services and ads to generate profit. This is one way to kill competition and generate profit. Services and acquisition are key of future tech brands. Just look at Google, Microsoft, Amazon etc.