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tech2 Information EmployeesApr 09, 2019 18:33:41 IST
The most recent regulatory filings for FY 2018 reveal a fall within the revenues of Micromax, Intex, and Lava — the highest Indian smartphone producers — which account for lower than 1 / 4 of the sale that Chinese language producers in India made in the identical time interval.
In keeping with a report by The Financial Instances, the mixed income of the three Indian producers fell 22 p.c to Rs 10,498 crore in 2017-18. In the meantime, the mixed turnover of Xiaomi, Oppo and Vivo was virtually 4 occasions that, standing at Rs 46,120 crore.
An worker stands on the counter of Micromax cell phones at a showroom in New Delhi. Reuters
Indian producers collectively have been hit by 70 p.c loss. Among the many Chinese language producers too, Oppo posted a internet lack of Rs 358 crore and Vivo’s loss was Rs 120 crore. Xiaomi was the one exception, posting a revenue of Rs 293 crore.
“The pattern of Indian smartphone manufacturers dropping their market share as a result of robust competitors from Chinese language manufacturers will proceed in 2019. Nonetheless, Micromax and Lava are the one manufacturers which might do effectively within the entry-level smartphone phase. Reliance Jio is one other native model to maintain a detailed eye on,” ET reported Karn Chauhan, an analyst with Hong Kong-based Counterpoint Expertise Market Analysis, as saying.
In 2018, Micromax was the fifth greatest smartphone producer in India, whereas Lava was the quantity 5 for manufacturing function telephones within the nation.
Disclaimer: Reliance Jio is owned by Reliance Industries which additionally personal Network18, the writer of Firstpost and tech2
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