The growth of the Indian smartphone market in the past decade has attracted smartphone makers and associated businesses to the country’s shores. This fact can be substantiated with one look at the current market performance of Xiaomi, a Chinese brand, and Samsung, a South Korean one. Apple has also announced that they will start assembling iPhones in India.
Such influx of foreign brands has put Indian mobile companies on the back foot, leading them to lose ground quickly. A prominent example here is Micromax, which witnessed declining sales ever since smartphones were introduced.
However, the implementation of the ‘Make in India’ mission may help indigenous smartphone makers to reclaim their lost ground.
Can Indian smartphone makers compete with established brands?
In short, the answer is yes, they can compete with established brands, and some of them have previously done it. Case in point, Micromax had a strong presence in the Indian market and was regularly competing with telecommunication giants Samsung and Nokia. However, their own issues have led to their downfall.
Even though Indian mobile companies can compete with international brands, the road leading to it is steep and difficult. Nonetheless, before moving on to the ways Indian smartphone manufacturers can deal with this situation, one needs to learn what went wrong in the first place.
What went wrong?
Going through the history of Indian smartphone makers will portray how these manufacturers often outsourced the development and production of their commodities to various Chinses suppliers. Moreover, they relied on hardware and software updates from those companies and sourced spare parts and accessories from them.
This process, after continuing for a few years, encouraged those Chinese manufacturers to directly launch their products into the Indian market. This allowed them to introduce superior products in terms of hardware specifications at lower prices, without the presence of a middle-man.
Furthermore, encouraged by the sales number and popularity, they started their own R&D centres and manufacturing units in this country.
These Chinese brands’ arrival required Indian makers to up their game and bring even superior products to keep their businesses afloat. However, they failed to compete with these international brands on their level. Hence, they shifted their focus from mid-range phones to entry-level ones.
Introduction of 4G
Contrarily, the introduction of 4G adversely affected this entry-level segment, as products from Indian brands became outdated with their 3G setup. Individuals became more inclined towards brands like realme, Xiaomi, vivo, etc., to buy 4G-enabled smartphones within Rs.10,000 – Rs.15,000 with advanced features like triple camera, high battery backup, fast charging, etc.
The current smartphone market of this country has not been very kind to the Indian makers. Nonetheless, brands like Micromax are gearing up to enter the market again with their range of sub-Rs.15,000 products. The company has recently announced a range ofupcoming mobiles in India that has excited smartphone buyers.
Along with this, a point to discuss in this regard is how Indian mobile companies can regain their old status. Here are some solutions –
- Eradicating the quality issues
- Providing regular software updates
- Integrating modern technologies
- Increasing online presence
- Creating a brand image
- Implementing highly competitive pricing
- Careful marketing strategy and focus on specific demographic
Now, irrespective of the maker or the brand, individuals who are planning to buy a smartphone can do so via the Bajaj Finserv EMI Network to access a gamut of benefits.
On making their purchase using the payment facilities offered by this network, individuals can convert their purchase into easy EMIs, and repay their credit without any hassle. With a presence across 1900+ cities in India, this facilitates buyers to make their purchase from any of the 1 lakh+ facilities and optimise the entire experience.
Even with support from such widespread facilities, Indian mobile companies have a mountain to climb in front of them. However, this is not an impossible task. With careful planning and quality products paired with the ‘Made in India’ tag, they can potentially dethrone their international competitors in the future.