Chinese Smartphones Under Rs 12,000 Will Be Banned In India! May Be Announced Soon
According to a Bloomberg report, the government has taken this step to push domestic smartphone companies such as Micromax and LAVA. The government believes that Indian companies have suffered a lot in the mobile world.
At present, cheap Chinese smartphones are sold a lot in India because a lot of features are given to them. But now news of big action on Chinese mobile companies is coming out in India. According to reports, these Chinese smartphones priced below Rs 12,000 will be banned in India. This decision of the government will give a big blow to Chinese companies like Vivo, Oppo, Xiaomi, Redmi, Poco, infinix, Tecno, and realme. However, no official statement has come out from the government and any Chinese company on this matter so far.
According to a Bloomberg report, the government has taken this step to push domestic smartphone companies such as Micromax and LAVA. The government believes that Indian companies have suffered a lot in the mobile world. According to market research firm Counterpoint, about 80% of the sales of Chinese companies have been seen in smartphones priced below $ 150 (Rs 12,000). The Indian smartphone market is occupied by Chinese smartphone companies. All these companies will suffer huge losses after this decision.
According to market tracker Counterpoint, a third of the smartphones sold in India in the second quarter of 2022 were priced up to Rs 12,000, with Chinese companies accounting for 80 percent. After catching up with such news, its effect has also been seen in the Chinese stock market. During the last hours of trading in Hong Kong, shares have also seen a fall. It is reported that the company's shares have fallen by 3.6 percent. If seen broadly, the shares of Xiaomi have seen a decline of more than 35 percent.
Samsung will also benefit from this decision of the government. Samsung can continuously present its smartphones in the midrange and entry-level. Let us tell you that companies like Vivo, Oppo, and Xiaomi are already the target of the Income Tax Department. These companies have also been accused of tax evasion. Recently ED raids of these companies have also taken place.