One such tech giant is Micromax, who in  December, 2014 inaugurated it's subsidiary 'YU' in a joint deal with Cyanogen. Yu unveiled its first 4G device 'Yureka' which supports 4G services at Rs 8,999 last year.

The device garnered wide popularity and the sales grew. In March, the company 'YU' was again made headlines that featured it's “Project Caesar”, which is the codename for it's upcoming handset. The company has released the teaser for the device that reveals some of the expected smartphone's specifications.

Speculations are being made that the next YU handset will have a 64-bit chipset with 2GB of RAM and 16GB of internal storage capacity.

YU plans to take on it's rival Xiaomi, Chinese tech conglomerate which has become hotly anticipated because of its recently launched 'Remi Note 2' handset which runs on Android OS, v4.4.4 (KitKat) and is clocked at Quad-core 1.2 GHz Cortex-A53 complimented by 2 GB RAM.

YU has earlier also tried to take on its competitor Xiaomi, stressing that Xiaomi's budget smartphones run on  Android 4.4 KitKat whereas YU's upcoming devices will sport upgraded version,  Android Lollipop.

We can expect the official announcement further to the Project Caesar to arrive soon. Though, if rumours are to be believed, the device will make it to the Indian mobile market in sometime around April priced at Rs 6,500.