In the current world of the technological boom, where every country is trying to outdo each other in the advancements, India is the most probable to become a “genuine global power in the smartphone world”, according to a report in Chinese media. In an article by Chinese state agency Global Times, it wrote, “Worth noting is how essentially different India is from other emerging markets.” According to a PTI report, “Factoring in its strength in software, which, coupled with the country’s continuing demographic dividend and the Indian government’s strong push for developing the nation’s manufacturing sector, the country, presently in the very early stage of a smartphone boom, is highly likely to transform into a genuine global power in the smartphone world,” it said.
According to observations by Chinese smartphone companies executives, as was written in the media report, “All these seem to be laying the foundation for Indias local brands to possibly become the next Apple, Samsung, or Chinas ZTE or Huawei, in years to come when eventually India joins the global smartphone supply chain and follows in the footsteps of the US and China to become a new trendsetter in the smartphone arena. When that day comes, Indias phone brands might even be among the bestsellers in China,” it said.
The country is one of the few areas which has high growth in the smartphone landscape globally. India had become a magnet for smartphone makers from neighbour China. China which had seen years of magnum growth, now has a stagnant market, according to the report. “With a rising number of Chinese technology brands making inroads into the Indian market, competition in the South Asian marketplace for smartphones is certain to heat up. However, it will not be the case that Chinese tech firms come face to face with Indias local phone manufacturers in a cruel price war,” it said. “It is by no means an easy job for Chinese firms to actually make a profit at this stage, although sales may be boosted by the introduction of a few phone models that are capable of hitting it big in the local market,” Global Times was quoted as saying.
It also said that as China might be foraying into the Indian Market, the move may be helpful for smartphone manufacturers in India to be among the top global brands soon.
(with agency inputs)