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Dec 07, 2019, 10.43 PM IST

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  • As per Xiaomi Technology India’s latest regulatory filings with the Registrar of Companies (RoC), the company’s total revenue in 2018-19 grew by 54% to Rs 35,426.92 crore as compared to Rs 23,061.11 crore it had clocked in FY18.

    Industry watchers attribute it to their weakening brand pull among younger customers and premium pricing vis a vis Chinese rivals such as Xiaomi and TCL, particularly at a time when Indian consumers are cutting down on consumer spending. The Korean duo of LG and Samsung have so far resisted the Chinese onslaught by dropping prices.

    Its adjusted net profit reached 3.5 bn yuan while total revenue rose 5.5 per cent year on year to 53.7 bn yuan, the Beijing-headquartered company announced on Wednesday in its quarterly financial results. Xiaomi's overseas business continued to grow rapidly, with revenue rising 17.2% year on year to 26.1 bn yuan and accounting for 48.7% of the total revenue.

    As per latest regulatory filings made to RoC, the South Korean technology giant’s India revenue grew by 19.7% in FY19 at Rs 73,085.9 crore as compared to Rs 61,065.6 crore it had clocked in FY18. In the flagship mobile phone business, Samsung India revenue increased by 15.4% at Rs 43,087.9 crore in FY19 as compared to Rs 37,349.7 crore in FY18.

    Xiaomi, which has partnered Foxconn to manufacture smartphones in India at two facilities in Sriperumbudur (Tamil Nadu) and Sri City (Andhra Pradesh), has also started exporting small volumes of devices to Nepal and Bangladesh.

    iPhone maker Foxconn said that it may look at extending its manufacturing capabilities to make more ecosystem devices in India for domestic and global needs and is currently awaiting clarity from the govt on the Remission of Duties or Taxes on Export Products scheme, which will allow the company to drive ‘mobile plus’ capacity.

    The company’s overall offline business grew by 70 per cent during this year festive season as compared to same period last year. The smartphone business in brick-and-mortar stores grew by 70 per cent year-on-year and over 50 per cent month-on-month, while the offline TV business grew by over 400 per cent year-on-year.

    “We wanted to change the definition of the premium segment. It is not about pricing but giving experience. We are offering all features from the latest chipset to the fastest charging. we will keep on expanding the portfolio. It is just an entry and we have many more devices to come,” Madhav Sheth, India CEO.

    ealme occupied the fourth spot in the Indian smartphone market with 14.3 per cent share, after Xiaomi (27.1 per cent), Samsung (18.9 per cent) and Vivo (15.2 per cent). Oppo ranked fifth with 11.8 per cent share in the July-September 2019 quarter, as per IDC data. Interestingly, Realme is part of BBK Group, which also owns brands like OPPO, Vivo and OnePlus.

    Key executives from electronics makers that are among the top manufacturers of mobile phones will meet Niti Aayog officials this week and seek details on the quantum of benefits, its time period, and the category of companies that will get the incentives.

    BBK's two leading brands - Oppo and Vivo have doubled their combined India revenue between April and September this year to Rs 34,500 crore, according to their latest regulatory filings.

    In 2014, India had just 2 mobile phone manufacturing units. But now it has 268 manufacturing units.

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