Headlines of the Day
Electronics brands in India show steady growth despite anti-China sentiments
Xiaomi, Lenovo and Vivo Mobiles — three of the largest Chinese electronics companies in — India have been growing at a steady rate despite the popular anti-China sentiments and government actions against Chinese businesses since the 2020 border clashes between the two countries.
Computer maker Lenovo increased its sales in India year-on-year in 2020-21 while smartphone makers Xiaomi and Vivo reported marginal fall in sales, according to latest regulatory disclosures they made to the Registrar of Companies (RoC), accessed through business intelligence platform Tofler.
In fact, Lenovo grew its business despite not receiving a clearance from the Department for Promotion of Industry and Internal Trade (DPIIT) to directly participate in government tenders, as it said in its RoC filings.
While Xiaomi and Vivo did not cite reason for sales decline in their RoC filings, industry executives attributed it to the first stricter Covid-19 lockdown in 2020 and shortage of components impacting product supplies.
Market researcher IDC India research director Navkendar Singh said the India-China clashes and sentiments in 2020 had no impact on the sales of Chinese smartphone and laptop brands.
“If some companies have lost sales, it is due to supply issues and lockdown,” he said. Pehal News
You must be logged in to post a comment Login