The company sold 25,000 Yu Yureka smartphones in five seconds in its last sale.  Yureka is a 4G device, which features Qualcomm Snapdragon 615 octacore processor and 64-bit multi-core CPU, 5.5-inch HD IPS display, 2GB RAM, 16GB ROM, 12.5GB memory (for apps and mass storage and expandable up to 32 GB), 13MP camera on the rear and 5MP front camera and 2,500 mAh battery for long lasting usage and dual-SIM functionality.

Based on Android operating system, CyanogenMod offers features and options not found in the official firmware that is distributed by most mobile device vendors.

Focussed on the fast growing segment of tech enthusiasts, Micromax had launched the new subsidiary last year.

A differentiating factor is that Yu allows users to root their devices, without voiding the warranty.

Under the weekly flash sale, a sales model made popular by Chinese handset maker Xiaomi, users will have to register themselves again for the next round of of sale, which will be announced on December 13 itself.

According to research firm IDC, the smartphone market in India grew at 84 percent year-on-year in the quarter ended June 2014 to 18.42 million units from 10.02 million units (in April-June 2013 quarter).

Korean handset maker Samsung led the smartphone market with 29 percent share, followed by Micromax (18 percent), Karbonn (8 percent) and Lava (6 percent).