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Startup Street: The COVID 19 impact on India’s smartphone industry

videos | May 8, 2020 9:14 PM IST

Startup Street: The COVID-19 impact on India’s smartphone industry

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Inventories remained high throughout the distribution channels due to seasonally low demand in the first quarter and this was clubbed with the COVID-19 impact from mid-March 2020 after the nationwide lockdown was announced.

The nationwide lockdown, which began on March 25 and extended until May 17, has had a serious impact on businesses in India.

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According to the International Data Corporation's or IDC quarterly mobile phone tracker, India's smartphone market saw a relatively flat opening quarter with year-over-year growth of 1.5 percent to 32.5 million units.
Inventories remained high throughout the distribution channels due to seasonally low demand in the first quarter and this was clubbed with the COVID-19 impact from mid-March 2020 after the nationwide lockdown was announced.
Overall, COVID-19 will have a substantial impact on the Indian mobile phone market in 2020, with supply chain disruptions and lower consumer demand for the next few quarters.
CNBC-TV18’s Megha Vishwanath spoke to the man who has been credited for building Xiaomi's smartphone business in India and making it market leader, the vice president, Xiaomi and managing director, Xiaomi India, Manu Jain, to understand the impact of the lockdown on smartphone industry and the path to recovery .
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!

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