The Indian market has always been open to all Global businesses to come and grow their business in India, especially in the smartphones category. Owing to some simple reasons, high affordability, and more power-packed features at the same price make it easier for Chinese phones to be the apt choice for Indians to invest their hard-earned money in the best deal.
A shocking revelation has come out related to Indian smartphone sales have inclined more towards Chinese brands especially Xiaomi, Vivo, Oppo, and Honor which have gained sales nearly twice when combined together in this fiscal. Chinese markets have opened doors for everyone to have access to their smartphones due to their low-cost factor.
Although the Chinese brands have been ruling the Indian markets for a long time, however, this dominance over the Indian smartphone market has taken this trend to reach a new level. As many industry executives and analysts have disclosed that the combined sales of these four Chinese smartphone makers in FY18 has almost doubled to Rs 51,722.1 crore from Rs 26,262.4 crore in FY17, even though they were already on a higher base.
The Registrar of Companies (RoC) filings for FY18 have compared the revenue for all these brands and told that Xiaomi Technology India, leading the chart has increased revenue from FY18 operations to Rs 22,947.3 crore (Rs 8334.4 crore in FY17); The second highest sales was displayed by Oppo Mobiles India of Rs 11,994.3 crore (Rs 8,050.8 crore in FY17); also, Vivo Mobile India got sales for Rs 11,179.3 crore (Rs 6,292.9 crore) and Huawei Telecommunications India’s smartphone revenue collection was found to be Rs 5,601.3 crore (Rs 3,584.2 crore).
Chinese products have always been a boon for Indians as they offer quality at a very cheap rate. Same has happened with Chinese Smartphone brands, they are in the league as owing to their high-tech features at pocket-friendly prices.
In the words of Industry Analysts, Chinese brands have stood out well as they keep launching high-specification models at lower prices than Japanese, South Korean, and Indian companies and have successfully established themselves as global brands, in line with the Indian consumer’s preference for products made by multinationals. They added,
These price segments account for more than 80% of the overall market where no Indian brands have managed to cut the ice and Samsung is the sole non-Chinese brand to fight it out
These Chinese brands are all set to establish their functioning units in India. Xiaomi has announced their plans to invest Rs 15,000 crore in smartphone component manufacturing in April. Along with this, Oppo is also working to establish two new manufacturing facilities in Uttar Pradesh.
Vivo has planned ahead to employ more than 5,000 people in its manufacturing plant. All this is happening as these smartphone brands have gained top positions in Indian markets under different price segments — Xiaomi with a lion’s share in the Rs 6,000-13,000 band, Oppo and Vivo in the Rs 10,000-22,000 one. Honor is also sharing a spot in the Rs 8,000-12,000 segment.