Due to increased manufacturing and shipments, India will export mobile phones worth $9 billion in the current fiscal year (FY23). According to the Economic Times (ET), this will be a huge increase from $5.8 billion in FY22. Total electronics manufacturing in India will reach $300 billion by FY26, according to the industry association India Cellular and Electronics Association (ICEA). Total electronics manufacturing will reach $100 billion in FY22, up from $87 billion in FY22.
Phone exports have already surpassed the $5 billion level, nearly double the previous year’s tally of $2.2 billion. Samsung and Apple have offered a significant push in phone manufacture. These two companies account for half of all phones produced in India.
We sat down with the industry early in 2021 to develop this $300 billion vision. One of the primary elements of the target was to considerably increase exports from $18-20 billion to $120 billion by FY26. Mobile phone exports are likely to hit $9 billion this fiscal year, according to Rajeev Chandrasekhar, minister of state for electronics and information technology.
He stated that all states must engage in order for India to become a manufacturing hub. Now, 66% of foreign direct investment (FDI) in electronics has come in the previous three years, and practically every state is fighting to attract capital, he said.
In 2020, the government announced a Rs 41,000 crore Production-linked Incentive (PLI) scheme for smartphone production. Also, Foxconn and Pegatron, two iPhone manufacturers, are based in Tamil Nadu. Wistron, another iPhone manufacturer, has its headquarters in Karnataka. Samsung’s headquarters are in Uttar Pradesh.
According to the most recent GSMA Intelligence data, there are 5.16 billion mobile customers worldwide. Further, China has the most mobile phone users, followed by India, which has 502 million in December 2019.
Because of the availability of the resources required for smartphone manufacture, China is undoubtedly a dominant smartphone maker. You might be surprised to learn that 16 of the 17 rare earth minerals are required to manufacture cell phones in China. Also, it has an abundance of cheap labor in addition to abundant resources.
If China is known for its quantity, Japan is known for its quality. As we all know, Japan is the birthplace of numerous cutting-edge technologies. Many clients have complete faith in any goods created in Japan. Sony is Japan’s largest smartphone manufacturer. It is well-known for its Xperia line, the most recent of which is the Xperia X smartphone. Sony controls 10% of the Japanese market.
South Korea is well-known for being the world’s leading mobile phone manufacturer, Samsung. Moreover, Samsung controls 32% of the global market. Further, its most popular model is the Samsung Galaxy series (Samsung Galaxy S10 Plus, Galaxy S10, Galaxy S10e, Galaxy Note 9, Galaxy S9 Plus, Galaxy S9, Galaxy Note 8, Galaxy Fold, Galaxy A9, Galaxy A8 Plus). In 2019, LG had a 2.89% global market share.
India is one of the most appealing mobile marketplaces for many big brands due to its large middle class and a massive population. Further, from June 2019 to June 2020, Xiaomi has a market share of 26.02%, Samsung has a market share of 21.13%, Mobicel has a market share of 12.89%, Oppo has a market share of 11.16%, Realme has a market share of 4.87%, and Apple has a market share of 3.54% in India. In India, Xiaomi Corporation operates seven plants. It has sold 99.9% of its phones are manufactured in India.
Taiwan is also one of the world’s biggest mobile phone producers. It is the origin of well-known brands such as HTC, ASUS, Zenfone, and Acer. HTC is mostly manufactured in Taiwan, although it enjoys a positive reputation in the global market. Some HTC unit manufacturing take place in India.
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