India is the fastest-growing market for smartphones with an approximate user base of about 500 million people, and a lot of manufacturers are interested in keeping their market share if not increase in the ever-increasing market by virtue of the country’s population. Iconic and well-known handset makers Motorola though who are now controlled by the Chinese company Lenovo are losing a lot of ground in their market share to other Chinese counterparts like Xiomi and BBK electronics who have brands in India like Oppo, Vivo, and Realme. The market share fell by about 71% year-on-year in their sales figures to Rs 1972.8 Crore as per their latest regulatory disclosures.
There have been various factors responsible for the dip in sales figures for the tech giants as there had been a big restructuring internally and the market sales strategy that the company had adopted for some time now has been fading, Motorola had their strength in the sub-14000 phones category with their flagship Moto C and others but now that competitive edge is lost as the Chinese counterparts have brought in cheaper phones with more exciting features and Lenovo along with Motorola have been left behind in the race of this tech-savvy industry.
The concept of exclusive online sales that had worked for them in the past also bit their numbers hard as the other companies promoted the sales from brick and mortar shops, a segment of retail that will still be booming even after this tech hype is over, and those with a sound business model will jump into it.
Tags : India, Chinese, Oppo, Vivo, Realme, Lenovo,