Chinese smartphone companies are expected to continue their dominance in the Indian market this year also. Analysts say that this year, along with increasing their offline presence, Chinese companies will focus on mid-range and premium segments, which will maintain their volume market share and strengthen their value share. Since 2020, Chinese companies have continuously remained at the forefront in the Indian market. This year their shipment may increase by one percent compared to last year and reach 75 percent.
Companies’ emphasis on increasing offline presence
Amidst the improvement in relations between India and China, Chinese companies are increasing their investments in India and improving their relations with offline retailers. Companies like OnePlus, Poco and Realme are upgrading their already existing stores as well as increasing their offline presence across the country. Vivo has made a joint venture with Noida-based Dixon Technology so that smartphones can be manufactured in India.
Last year there were about 25 active brands in India
According to Moneycontrol, analysts said that consolidation in Indian smartphones has been completed and no new companies are expected to enter or existing companies will be closed down this year. Last year, there were about 25 active smartphone brands in India, which is a big decline compared to the active 100 companies in 2018. If we talk about Chinese companies, there were 4 Chinese companies including Vivo, Xiaomi, Oppo and Realme in the top-5 companies in the July-September quarter. Their share in the market share was 60 percent.
The rate of growth in the market will remain slow
This year, the growth rate in the Indian smartphone market will be slow and the shipment is expected to cross 16 crores. However, despite slow growth, value growth is expected to increase. The reason for this is the increasing trend of companies bringing premium smartphones. The Indian smartphone market may cross the value of $50 billion in 2025.
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