Even as sentiments against the Chinese companies gathers heat across the country, the hold of the country on the Indian electronics market remains firm. Chinese companies recorded sales of nearly Rs 1.4 lakh crore in the Indian electronics market previous year. The nation controlled the fast-pacing categories of smartphones, televisions, laptops, and even smart bands and watches.
This has been at the exchange of Indian brands such as Micromax, Lava, Intex and Karbonn, and MNCs from countries like South Korea (Samsung & LG) and Japan (Sony).
In the year 2019, the Chinese well-known labels closed the year with a share of 71% in the revenue-intensive smartphones group, and this further increased to 81% in the first quarter (January-March) of this year, as per the numbers screened from Counterpoint research.
In the meantime, while Chinese brands such as Xiaomi, Oppo, Vivo and RealMe flourished, it was a biting reality for the homegrown Indian brands that closed 2019 with only 1.6% share, which further reduced to under 1% in the first quarter of 2020, Prachir Singh, a research analyst at Counterpoint, said.
However, Apple is the only other non-Chinese brand that does business, but even its share remains marginal.