Former Apple Chief Executive Officer (CEO) John Sculley has invested in a new smartphone brand that will be launched in India this year, according to Cult of Mac.

Although the said brand does not have a name yet, former HTC head Ajay Sharma will be its manager, said the report. International Business Times (IBT) also said that Sharma's former workmates from HTC are included in the team that is presently working on the new Indian smartphone brand.

The brand, which is funded by Singaporean investment firm Inflexionpoint, will launch its first set of units in April. The price of these low-end phones will range between INR5,000 (£50) and INR15,000(£150), the report detailed.

Other details about the phones such as its specifications are not yet available, but they will most likely run on the Android operating system, IBT reported.

Cult of Mac noted that India's smartphone shipments have tripled to 44 million in 2013 from the previous year's 16.2 million. The report also said analysts foresee a similar trend in 2014.