Indian consumers have spent more than Rs 50,000 crore in the fiscal year 2018 on purchasing smartphones manufactured by the top four Chinese brands. And this amount is almost twice the amount spent in the last fiscal year, i.e., in 2017.
These four companies are – Oppo, Vivo, Xiaomi, and Honor. These top 4 Chinese smartphone brands, along with some other popular brands from China like the Infinix, One-Plus, Motorola, and Lenovo account for more than half of the total Indian smartphone market by sales.
The sales of Chinese smartphones in India are growing at a very fast pace since Chinese brands are providing smartphones with high specifications and latest features at a lower cost, as compared to the South Korean, Indian, and Japanese companies.
According to Counterpoint Research associate director Tarun Pathak, due to the easy access to the Shenzhen hardware and R&D hub and special supply chain ecosystem, the top Chinese brands have been able to innovate. This, in turn, has helped them develop high-end smartphones at lower costs.
India is also likely to benefit from the growth of Chinese brands, as brands like Xiaomi and Oppo are planning to invest more in local manufacturing in the coming days. For example, Xiaomi has decided to invest around Rs 15,000 crore in India in smartphone manufacturing component. Oppo is also planning to set up two manufacturing units in Uttar Pradesh soon.
Picture Credits: BGR