India’s consumer electronics brand Micromax on Thursday (December 19, 2024) announced a joint venture (JV) with the Taiwanese NAND flash memory chip maker Phison to make NAND storage solutions with a target to bring down the cost of GPUs to one-tenth of their current cost and also to lower the energy consumption for AI use cases.

The JV between Micromax and Phison will be known as ‘MiPhi’.

The MiPhi joint venture will be based in Greater Noida and will cater to the needs of enterprise market, AI, automotive for India and specific agreed-upon regions. Both companies believe that India will be a key innovation hub for MiPhi.

Micromax’s local sales teams will provide the support to the JV’s client that may include automobiles, IoT, mobile devices, data centres, IT hubs, consumer devices, and removable storage devices and systems users.

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The JV will also focus on customised design solutions for AI and security applications, they said.

“The joint venture kicks off a new chapter with an aim to harness the full potential of emerging technologies and contribute to the future of digital transformation across industries. With this venture, we aim to bring down the cost of GPU by 1/10th by bringing the lowest per token cost in the world. This will help us in disrupting the AI landscape not only in India but also in specific agreed-upon regions,” said Rahul Sharma, Co-founder, Micromax Informatics.

“Phison is delighted to partner with Micromax. Together, we are committed to leveraging our combined resources and expertise to establish MiPhi as a leading force in India’s NAND storage ecosystem. By uniting Micromax’s local market understanding with Phison’s world-class storage technologies, we’re well-positioned to create impactful solutions across SMBs, automotive, IoT, AI, enterprise workloads, and beyond,” said K.S. Pua, CEO of Phison.