
Chinese smartphone brands expanded India market share in 2020: Report
Chinese smartphone brands increased their market share in India in 2020, a year marked by deadly border clashes between the Asian neighbours and backlash against Chinese firms in India, research firm Counterpoint said on Wednesday.
Chinese brands commanded 75% of India's smartphone market last year, up from 71% in 2019 and the highest since at least 2014.
Xiaomi Corp remained India's top smartphone seller in 2020, with a 26% market share, albeit slightly less than its 27% share a year earlier. South Korea's Samsung Electronics was the No.2 brand with a 21% share.
India's next biggest phone brands were Vivo, Realme and Oppo - all Chinese - data from Counterpoint showed.
"The anti-China sentiments largely subsided by the end of the year," analyst Shilpi Jain said in Counterpoint's report.
A skirmish between India and China at a disputed Himalayan border site left 20 Indian soldiers dead last June, fueling a wave of anti-China sentiment in India.
Amid the backlash, Vivo dropped out of the title sponsorship of the widely followed Indian Premier League cricket tournament last year, even though it had secured sponsorship rights from 2018 through 2022.
The anti-China sentiment also spurred some Chinese firms to showcase their Indian-ness. Xiaomi's India website still features a "Made in India" banner on its home page that was introduced last year.
Meanwhile, overall smartphone shipments in India reached more than 150 million units in 2020, falling 4% from a year earlier.
Demand picked up in the final quarter of 2020 during India's festive season that culminated with Diwali in November, Counterpoint said.
"Multiple new use cases such as online education, as well as increased content consumption, were the major factors for the high consumer demand," Counterpoint analyst Prachir Singh said.

Goldman’s consumer chief Ismail Makes shock exit for Walmart

Sovereign gold bond opens for subscription tomorrow. All you need to know

After the worst start in 30 years, gold losses sheen this February

Chinese investment in Australia plunges due to souring relation, Covid-19 impact

‘Not an unmixed blessing’: RBI report amid plan for digital currency

Nine of top 10 firms lose nearly ₹2.2 lakh crore in market valuation

Saudi shares drop as US pins Khashoggi murder on crown prince
- While President Joe Biden’s administration imposed only modest new sanctions on the kingdom, it’s expected to announce more action on Monday.

India's coal import drops 12 % to 181 million tonnes in January-April period

96% people faced drop in earnings during lockdown: Survey

Women make inroads on Wall Street, but many mountains yet to be moved
- Employment figures demonstrate the mountains that still have to be moved to achieve parity between men and women in the financial services sector.

UK govt to set $7 billion program to help struggling firms

US Prez Biden urges quick Senate action on huge stimulus package

US SC to look into system that lets corporations like Apple kill patent lawsuits
- In an argument at the intersection of intellectual property and the separation of powers, the justices on Monday will consider a challenge to a congressionally-created board that critics have dubbed a “death squad” because of its tendency to toss out patents.

Warren Buffett says 'never bet against America' in annual letter to shareholders

Reliance partners with Google, Facebook for digital payment network bid
- Facebook and Google are already partnered with Reliance and own stakes in Jio Platforms