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HUAWEI reiterates the importance of India’s emerging market for the company
HUAWEI and India have had a strong business relationship for quite a while now, and the Chinese tech giant has reaffirmed that by indicating India is a promising market that’s very important for HUAWEI.
Back in September, HUAWEI officially unveiled its plans to manufacture smartphones in India, confirming once again its commitment to the “Make in India” initiative. Indeed, the Chinese electronics company has maintained strong presence in the country partially due to its partnerships with local carriers and its proactive engagement in local economic activities.
Now, Ken Hu, one of the company’s three rotating CEOs, has reaffirmed that India would remain a valuable market for the company for the foreseeable future:
India is a promising market from the mobile broadband point of view… India has large population and there’s a large network of young generation from a demographic point of view, therefore we need to provide support from our terminal business.
Hu’s comment shouldn’t come as a surprise, for HUAWEI isn’t the only one who sees the value in the fast-growing smartphone market in India. LeEco, another Chinese tech startup which recently made its debut in the US, has an ambitious plan to be among the top three players in India by the end of this year. And it is no secret that big corporations like Samsung and Apple are vying to stay relevant in the market there.
After all, with a population of over 1.2 billion people, India is set to become the world’s second largest smartphone market in the future. While currently, the percentage of smartphone ownership in India is relatively low – when compared to the sheer population size – electronics makers are aware that this is where the next big growth is most likely to happen.
HUAWEI has already invested a significant sum in its Bengaluru-based R&D campus, and plans to expand that further early next year. With its brand image sufficiently established, the next two important strategic steps for the company would be to develop the necessary digital ecosystem and to attract the younger generations with affordable devices.
With its brand image sufficiently established, the next two important strategic steps for the company would be to develop the necessary digital ecosystem and to attract the younger generations with affordable devices.