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India: India Seeks To Ban Chinese Phones Cheaper Than ₹ 12,000, Report
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NEW DELHI, 09 August 2022, (TON): India seeks to restrict Chinese smartphone makers from selling devices cheaper than 12,000 rupees ($150) to kickstart its faltering domestic industry, dealing a blow to brands including Xiaomi Corp.
The move is aimed at pushing Chinese giants out of the lower segment of the world's second-biggest mobile market, according to people familiar with the matter.
They said “it coincides with mounting concern about high-volume brands like Realme and Transsion undercutting local manufacturers .“
According to market tracker Counterpoint “exclusion from India's entry-level market would hurt Xiaomi and its peers, which in recent years have increasingly relied on India to drive growth while their home market endures a series of Covid-19 lockdowns that crippled consumption.”
Smartphones under $150 contributed to a third of India's sales volume for the quarter through June 2022, with Chinese companies accounting for up to 80% of those shipments.
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