Brands like Xiaomi, Realme and more to define plans for 2023 in India: Here’s why | News Bharat

Indian smartphone brands are yet to decide their plans and spending for next year, according to a new report. Usually, brands start planning for the next year by October-November, but as per the details given in one ET Reports, may have been delayed this year.

The report cites industry analysts who claim that intense scrutiny of brands, along with macroeconomic factors, has forced Xiaomi, Realme and other companies to rethink their 2023 plans.

Chinese brands account for the majority of the Indian smartphone market, 80 percent to be exact, and over the past year, brands like Xiaomi, Oppo and Vivo have come under scrutiny from the Indian government for their business operations. Such measures have made it difficult for companies to plan their finances without an investigative system lurking in the background.

The financial situation didn’t help matters either. Over the past few quarters, smartphone shipments have seen a steady decline and the segment’s overall projection for the next few quarters is not rosy either.

This has forced brands to lay off their workforces and streamline their product lineups, reducing inventory piles. We have already seen massive layoffs in the IT sector and analysts expect the mobile industry to brace for a similar impact.

The arrival of 5G is expected to increase demand for the devices but the increased average selling price of these smartphones has ensured that people are either postponing their purchases or waiting for special online deals. The year ends in a month’s time, so it will be interesting to see how these brands decide to move forward with their 2023 plans and if they lower their revenue expectations for the year.

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