2024-05-13 00:54:19
Indians are once again liking Chinese smartphones. There was a time when there was a strong atmosphere in India against Chinese smartphones. This led to a huge decline in the sales of Chinese smartphone brands. It started in the year 2020, which continued till the year 2023, when a continuous decline was recorded in the sales of Chinese smartphones in India. But in the year 2024, Chinese branded smartphones have made a comeback in India and left behind smartphone brands like Samsung, which has remained the top smartphone brand for the last many years. But there is a hitch in the comeback of the Chinese smartphone brand.
Is the peg stuck?
ET has quoted Counter Point report as saying that in the first quarter of 2020, the volume share of Chinese smartphones in India was around 77 percent. Meaning, out of 10 smartphones sold in India, 8 were Chinese. But by the year 2023, the volume share of Chinese smartphones in India will remain at 61 percent. This means that till now 6 out of 10 smartphones sold were Chinese. But in the first quarter of 2024, the volume share of Chinese smartphones again increased to 75 percent in India. This means that almost 8 out of 10 smartphones are again from China, which are being sold in India, but the result of the strict monitoring of the government investigation is that the renewal of Chinese smartphone brands is continuing a sharp decline.
The decline in revenue continues
Chinese smartphone brands are selling more smartphones in volume, but their earnings are at the lowest level. While the revenue share of Chinese companies was 70 percent in the first quarter of 2020, it decreased to 50 percent in the first quarter of 2023, while this figure decreased to 48 percent in the first quarter of 2024.