The model named “MiLeap X” is priced at 13,990 rupees, about 40 percent cheaper than its lowest cost model currently sold in the market.
“Indian market was waiting for something like this…It will open up a wide range of new usage scenarios and application areas,” Ajai Chowdhry told reporters during a press conference, but did not give any sales projections for the model.
The firm launched another model “MiLeap Y” priced at 29,990 rupees.
Analysts say there is a market for cheap laptops in India and HCL may gain if it enters into sales pact with educational institutes and government departments.
HCL currently commands about 7 percent of India’s laptop market, Chowdhry said.
The Indian market, dominated by Hewlett-Packard Co, Lenovo, Acer Inc, sold 980,000 units in third quarter, almost double from an year ago, according to research firm IDC.