Local and foreign brands manufactured 100 million smartphones in India last year
As part of a government initiative suggestively titled “Make in India”, a number of top-tier foreign smartphone manufacturers have been swayed to assemble their products locally by way of tax cuts and other incentives.
The program was established in late 2014, and already, it’s helped significantly boost production in dozens of mobile plants recently erected in the second global market to reach a billion active handheld users.
How significantly? According to Telecom Minister Ravi Shankar Prasad, no less than 100 million smartphones were built in India during 2015, up from “just” 68M the previous year. It’s unclear exactly how many of these were also shipped to end buyers, but in the April – June quarter, domestically-made devices accounted for roughly a fourth of all sales, a percentage that you have to guess is on the rise.
What’s certain is 100 million smartphones in total were sold in India last year, an impressive figure that may not surge much further in 2016, as demand dwindles around the world, including in countries considered emerging until not long ago, such as China.
Samsung, Lenovo, Xiaomi, Asus, and OnePlus are only a few of the top global brands that joined the “Make in India” venture of late, helping create 30,000 new jobs in the country, bringing in massive overseas investments, and contributing to the penetration of Internet access for roughly 400 million people, set to grow to half a billion before long.
Of course, companies like Micromax, Karbonn, Lava or Intex had their own very important impact on this remarkable production escalation, matching or at least coming close to the box-office scores of Samsung or Lenovo.
Source: The Economic Times