After a year-long pause, Micromax is once again back in the smartphone business. The company's online sub-brand YU has finally announced the launch of its budget smartphone- YU Ace. With the new smartphone, the company is clearly targetting the Chinese smartphone maker Xiaomi as it teased the launch with a catchy line, 'Forget Mi. YU decide'.The new smartphone is priced at Rs.5,999 and will be exclusively available on Flipkart from 6th September 2018.