Nothing founder and CEO Carl Pei has become a fan of India’s smartphone industry. He said that this industry is going through a big change. In a post on social media platform X, he compared the possibility of development in this industry, government schemes for local manufacturing, tech ecosystem and constantly increasing consumer base to China. Let us know what Pei has said about all this.
India- Payi, where there was China 10 years ago
Payi wrote in his post that India stands today in the smartphone industry where China was 10 years ago. A big revolution is coming in the smartphone industry. The government’s efforts to promote local manufacturing, rich tech ecosystem and rapidly growing consumer base, India have all the necessary ingredients to become a global smartphone powerhouse. He also said that the government is trying to develop Indian mobile brands. This will also strengthen India’s position in the global market.
India is the largest market for nothing
India has become the largest market for Nothing and now the company wants to further strengthen its position here. The third quarter of 2024 saw a great increase of 510 percent in Nathing shipment on an annual basis. In this way it has become one of the fastest growing companies. This achievement is also special because Chinese companies dominate India and about 80 percent market share is occupied.
India’s smartphone industry is growing rapidly
In 2014-15, India was able to produce only 25 percent of its domestic needs, but in 2018-19, there was an equal production of demand. In the financial year 2015, India’s mobile manufacturing was US $ 3 billion, which has increased to about $ 50 billion in the financial year 2024. Along with manufacturing, there has been a surge in exports. In 2022-23, on an annual basis, mobile exports have seen a 91 percent increase.
Also read-
Good news for BSNL users! 5G connectivity will start getting soon, government made this plan
