India to motivate its Domestic Mobile Market Industry seeks to ban Chinese smartphones below ₹12,000 range or $150, which will impact the major mobile industry players like Realme, Xiaomi and more.
Indian Seeks To Ban Chinese Smartphones Below ₹12,000
India is the World’s second biggest mobile market, and this movie is aimed to kick out the dominating Chinese Mobile Companies from it, as mentioned in News18. “ It coincides with mounting concern about high-volume brands like Realme and Transsion undercutting local manufacturers, they said, asking not to be identified discussing a sensitive matter.”
Restricting these Chinese Mobile Firms from the Indian market will hurt Xiaomi, Realme and its peers a lot as they majorly depend on our markets to drive income growth as at their homes the markets are impacted by a row of COVID-19 lockdowns.
“Smartphones under $150 contributed to a third of India’s sales volume for the quarter through June 2022, with Chinese companies accounting for up to 80% of those shipments,” as per Market Tracker Counterpoint.
Xiaomi’s shares dealt with a rise in losses in the last few minutes of trading in Hong Kong, on Monday. They tanked 3.5 per cent, which has taken their loss this year to around 35 per cent or more. “It’s unclear whether Prime Minister Narendra Modi’s government will announce any policies or use informal channels to convey its preference to Chinese companies,” as per people.
“The move shouldn’t affect Apple Inc. or Samsung Electronics Co., which price their phones higher. Representatives from Xiaomi, Realme and Transsion didn’t respond to requests for comment. Spokespeople from India’s technology ministry also didn’t respond to Bloomberg News inquiries,” mentioned by News18.
“Chinese smartphone players now sell the vast majority of devices in India, but their market dominance has not been “on the basis of free and fair competition,” India’s junior tech minister told the Business Standard newspaper last week. Recurring annual losses posted by most Chinese handset makers in India, despite their leading position, add to criticism of unfair competition”.