Indians spent over Rs 50,000 crore on Chinese smartphones in a year

0
15010

KOLKATA: Consumers in India spent more than Rs 50,000 crore in FY18 on purchasing smartphones made by just the top four Chinese brands, nearly twice what they spent on them in the previous fiscal. That trend is set to continue with Chinese brands dominating the Indian smartphone market, analysts and industry executives said.

The four — Xiaomi, Oppo, VivoNSE  and Honor — along with a few other Chinese brands like Lenovo-Motorola, One-Plus and Infinix, make up more than half of the total Indian smartphone market by sales. Sales of Chinese brands are growing rapidly this year too, as per the data available thus far, analysts said.

The Chinese brands are launching high-specification models at lower prices than South Korean, Japanese and Indian companies and have successfully established themselves as global brands, in line with the Indian consumer’s preference for products made by multinationals, two analysts said.

Counterpoint Research associate director Tarun Pathak said the top Chinese brands have easy access to the Shenzhen hardware and R&D hub and the supply chain ecosystem. “This has helped them to be innovators and to be always on top of trends,” he said.
India stands to gain with Xiaomi, Oppo, Lenovo-Motorola, Huawei and Vivo investing in local manufacturing and creating jobs, thanks to Make in India policies. Xiaomi announced plans to invest Rs 15,000 crore in smartphone component manufacturing in April. Oppo is establishing two new manufacturing facilities in Uttar Pradesh.

LEAVE A REPLY

Please enter your comment!
Please enter your name here