Indian consumers have spent more than Rs 50,000 crore in the financial year 2017-18 for purchasing smartphones made by just the top four Chinese brands, Economic Times has reported. The top four brands in question are Xiaomi, Vivo, Oppo and Honor.
The combined sale of the four Chinese smartphone brands in FY 2017 amounted to Rs 26,262.4 crore which nearly doubled in FY 2018 to Rs 51,722.1 crore. The reason for the growth of the Chinese brands is the introduction of quality phones loaded with popular features at a lower price than South Korean, Japanese or Indian brands.
The trend will see a rise in upcoming years as already more than half of the smartphones sold in India are made by the Chinese manufacturers such as Xiaomi, Oppo, Vivo, Honor, One plus, Infinix and Lenovo’s Motorola.
However, the rise of the Chinese manufacturers is helping India as more jobs are being created by these manufacturers under the ‘Make in India’ policy of the government. Xiaomi had announced an investment of Rs 15,000 crore in April while Oppo is setting up two manufacturing facilities in Uttar Pradesh. Vivo is reportedly employing more than 5,000 people in its plant.
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