China's mobile and digital dominance runs deep into Indian economy
Sometime in 2019, India overtook the US to become the second largest smartphone market in the world, after China. Of the 158 million units shipped (meaning made available in the Indian market), around 114 million, or 72%, were Chinese brands, said Counterpoint Research. Xiaomi led the pack, with Vivo, Realme and Oppo figuring among the top five, according to figures released in January. It’s been an astounding market share grab, considering most of these brands have not been in India for more than a few years. Chinese companies are now major players in a number of consumer segments. Lenovo is a heavyweight in computer hardware, Haier is inching up the league table in white goods. Huawei’s domination in telecom equipment is strong and its leadership in 5G technology, in particular, is absolute. In auto, 2019 saw a blockbuster entry for MG Motor, with its Hector SUV. A number of major Chinese automakers are now rolling into India.