Smartphones currently hold one of the highest market shares, being a must-have commodity that allows individuals to stay connected with the world. This rise in demand for mobiles has led to tough competition among different brands.
Every smartphone brand, including Apple, Samsung, Xiaomi, realme, vivo, OPPO and more, races to launch new and improved smartphone models at regular intervals.
The mid-range segment, in particular, presents a broad set of challenges for the brands that manufacture phones under this range. One of the major issues is producing phones with flagship-like features but within budget.
To understand the tough competition that mobile brands in India are facing, buyers must understand several aspects of the industry as a whole.
Mobile brands in India have to face fierce competition because of the following reasons.
Competitive pricing of phones
Smartphone consumers are price conscious and expect phones with features that ensure value for money. The brands try to position themselves as a consumer favourite by selling smartphones at a cost lower than the competitors. For example, mobile brands in India like vivo and OPPO manufacture handsets with similar features but at different price points.
Even a minimal cost difference tends to affect brand sales. Due to this reason, manufacturers conduct a proper survey before launching a product. This is to determine the market demand for the model before deciding on a price that works best. The execution of this methodology tends to intensify competition among top smartphone manufacturers.
Several advanced features
One way of ensuring that consumers get value for their money is by releasing models packed with multiple features. OE manufacturers focus on producing phones loaded with different user-friendly features while maintaining a positive difference between manufacturing cost and market price. Smartphone brands like Samsung, Apple, Xiaomi, and more make huge profits by selling smartphones packed with features at mid-range prices.
This forces their competitors to do the same. One example would be the launch of 5G smartphones. Initially, the cost of these models was substantial. However, the launch of the OnePlus Nord under Rs.25,000 changed the entire scenario. It caused competitors to release similar products at comparatively lower prices. realme and Xiaomi launched 5G smartphones under Rs.15,000 after OnePlus Nord hit the markets.
Dominance as per market share
Post the release of affordable smartphones with flagship-like performance, smartphone brands like Xiaomi have gained a certain market presence over the years. Samsung and OPPO are focusing on introducing products that help them close this gap. The market hold of Xiaomi has led it to develop consumer trust, causing individuals to incline towards the brand more.
The budding competition among mobile phone companies led the mobile brands in India to produce a phone that helps them attain a market monopoly.
This has led to a wide number of choices for consumers to choose from.
Affordable smartphones by Indian mobile brands
- Moto E7 Plus
- realme C15
- Samsung Galaxy M02s
- Poco C3
- Redmi 9 Prime
These models are all 4GB RAM mobiles that come with a high-speed processor and high battery capacity.
In case you are settling for any of these models, the Bajaj Finserv EMI Network can be helpful. The hyperlocal network of 43,000+ partnered sellers lets you purchase the device of your choice and convert your expenses into easy, no-cost EMIs. This helps individuals to make high-end purchases without any financial burden.
The Bajaj Finserv EMI Network Card comes with a pre-sanctioned credit limit of up to Rs.2 lakh. Upon making a purchase using this card, the amount payable can be paid off within tenor of up to 24 months.
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This NBFC also extends pre-approved offers that make availing such financial products easier. These offers are also available on other financial products like personal loans, business loans, etc. Check their pre-approved offers by providing name and contact details.
Therefore, with the rise of competition, individuals are presented with a wide range of options to choose from. Consumers can choose to wait a few months after the launch of the latest phone to acquire the same at discounted rates.
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