BUSINESS

India is presently the world’s second-largest producer of mobile phones

Due to significant investment from original equipment manufacturers, original design manufacturers, and businesses that deal in components and parts, India is now the second-largest manufacturing center for mobile phones, according to a new research released Tuesday.

According to Counterpoint Research, India would export around 22% of all built mobile phones in 2023.

On the long term, nevertheless, China’s manufacturing and supply chain will continue to play a crucial role, according to senior research analyst Ivan Lam.

According to recent government and industry figures, India exported mobile phones worth $5.5 billion (about Rs 45,000 crore) from April to August of the current fiscal year (FY24), giving the “Make in India” effort a boost.

According to estimates from the Department of Commerce and the India Cellular and Electronics Association (ICEA), mobile phone exports totaled $5.5 billion between April and August, compared to $3 billion (about Rs. 25,000 crore) during the same time period in FY22-23.

In the current fiscal year, India is expected to export mobile phones worth more than Rs 1,20,000 crore, with Apple dominating with a market share of more than 50%.

In the meanwhile, the research claims that shipments of smartphones from original design manufacturers (ODMs) and independent design houses (ODMs/IDHs) fell 6% (year over year) in the first half of this year.

“The bad performance of Samsung, Xiaomi, and Lenovo Group was the primary factor in the YoY fall in H1 2023 shipments for ODM/IDH firms. However, the growth of Transsion Group, HONOR, and Vivo somewhat countered the drop, according to senior research analyst Shenghao Bai.

In H1 2023, Huaqin, Longcheer, and Wingtech continued to control the worldwide smartphone ODM/IDH market’s competitive environment.

In the first half of the year, the businesses, commonly referred to as the “Big 3,,” accounted for 76% of the worldwide ODM/IDH smartphone market. When compared to the same time in 2018, outsourced design exports declined in H1 2023, but their share climbed. 95% of all ODM exports were made by the top six ODMs.

 

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