Micromax, Intex, Lava’s profits fall as Chinese phone makers claim lion’s share in India- Technology News, Firstpost

tech2 News StaffApr 09, 2019 18:33:41 ISTThe latest regulatory filings for FY 2018 reveal a fall in the revenues of Micromax, Intex, and Lava — the to

Xiaomi may soon rollout its own service to compete with Netflix, Amazon: Report- Technology News, Firstpost
80 percent of engineers unemployable for any job in the knowledge economy: Report- Technology News, Firstpost
Rackspace announces it has laid off 200 workers – TechCrunch

tech2 News StaffApr 09, 2019 18:33:41 IST

The latest regulatory filings for FY 2018 reveal a fall in the revenues of Micromax, Intex, and Lava — the top Indian smartphone manufacturers — which account for less than a quarter of the sale that Chinese manufacturers in India made in the same time period.

According to a report by The Economic Times, the combined revenue of the three Indian manufacturers fell 22 percent to Rs 10,498 crore in 2017-18. Meanwhile, the combined turnover of Xiaomi, Oppo and Vivo was almost four times that, standing at Rs 46,120 crore.

Micromax, Intex, Lavas profits fall as Chinese phone makers claim lions share in India

An employee stands at the counter of Micromax mobile phones at a showroom in New Delhi. Reuters

Indian manufacturers together were hit by 70 percent loss. Among the Chinese manufacturers too, Oppo posted a net loss of Rs 358 crore and Vivo’s loss was Rs 120 crore. Xiaomi was the only exception, posting a profit of Rs 293 crore.

“The trend of Indian smartphone brands losing their market share due to strong competition from Chinese brands will continue in 2019. Still, Micromax and Lava are the only brands which can do well in the entry-level smartphone segment. Reliance Jio is another local brand to keep a close eye on,” ET reported Karn Chauhan, an analyst with Hong Kong-based Counterpoint Technology Market Research, as saying.

In 2018, Micromax was the fifth biggest smartphone manufacturer in India, while Lava was the number five for manufacturing feature phones in the country.

Disclaimer: Reliance Jio is owned by Reliance Industries which also own Network18, the publisher of Firstpost and tech2

Tech2 is now on WhatsApp. For all the buzz on the latest tech and science, sign up for our WhatsApp services. Just go to Tech2.com/Whatsapp and hit the Subscribe button.

Source

. . . . . .
***For fast Updates join our Telegram group***

* * * ****

COMMENTS

WORDPRESS: 1
  • comment-avatar

    okay

      

  • DISQUS: 0