Name: Make in India success: India now 2nd-biggest manufacturing hub for mobile phones globally
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Make in India success: India now 2nd-biggest manufacturing hub for mobile phones globally

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India is now the second-biggest manufacturing hub for mobile phones due to heavy investment from original equipment manufacturers, original design manufacturers and companies dealing in components and parts, a new report showed on Tuesday.India is expected to export about 22 per cent of its total assembled mobile phones in 2023, according to Counterpoint Research.However, China's manufacturing and supply chain will still maintain its essential role in the longer run," said senior research analyst Ivan Lam.In a fillip to the 'Make in India' initiative, India&nbsp;saw mobile phones exports worth $5.5 billion (over Rs 45,000 crore) in the April-August period in the ongoing fiscal year (FY24), government and industry data showed recently.As per the estimates by the Department of Commerce and the India Cellular and Electronics Association (ICEA), the April-August period saw mobile phone exports worth $5.5 billion, against $3 billion (about Rs 25,000 crore) in the same period in FY22-23.India&nbsp;is set to cross Rs 1,20,000 crore in mobile phone exports in the current fiscal year, with Apple leading the market with more than 50 per cent in FY24.Meanwhile, according to the report, smartphone shipments from original design manufacturers (ODMs) and Independent Design Houses (ODMs/IDHs) declined six per cent (year-on-year) in the first half this year, according to the report."The YoY decline in ODM/IDH companies' H1 2023 shipments was driven by Samsung, Xiaomi and Lenovo Group's weak performance. However, Vivo, HONOR and Transsion Group's rise offset part of the decline," said senior research analyst Shenghao Bai.Huaqin, Longcheer and Wingtech continued to dominate the competitive landscape of the global smartphone ODM/IDH industry in H1 2023.The companies, also known as the 'Big 3,' accounted for 76 per cent of the global ODM/IDH smartphone market in the first half. Outsourced design shipments decreased in H1 2023 but their share increased when compared to the same period last year, the report mentioned. The top six ODMs took 95 per cent share of the total ODM shipments.(With inputs from IANS)Trending nowJoin the DiscussionAdvertisementMOST POPULARBest Trick to Maximise your Shopping Experience during Flipkart Big Billion Days 2023Jr NTR's Devara Follows Baahubali Model; Set To Release In Two Parts (But Why)Sobhita Dhulipala reveals how 'Deepika Padukone in Om Shanti Om' comforted her as a kidCourt grants divorce to Shikhar Dhawan on grounds of mental agony, cruelty by wife; cricketer allowed to meet son [details]Aishwarya Rai Bachchan Then and Now: Former Miss World's transformation over the years [PICS]Ileana D'Cruz shares raw, tearful picture with son Koa: "Nothing prepares you for the pain"Renowned Fashion Designer Mandira Wirk Takes the Global Stage with A-List Celebrity Endorsements and Authentic Stylish Designs'Why the fillers and Botox?': Aishwarya Rai stuns in black outfit; netizens miss the OG beauty of Former Miss WorldAdvertisementMust ReadAdvertisement

India is now the second-biggest manufacturing hub for mobile phones due to heavy investment from original equipment manufacturers, original design manufacturers and companies dealing in components and parts, a new report showed on Tuesday.India is expected to export about 22 per cent of its total assembled mobile phones in 2023, according to Counterpoint Research.However, China's manufacturing and supply chain will still maintain its essential role in the longer run," said senior research analyst Ivan Lam.In a fillip to the 'Make in India' initiative, India&nbsp;saw mobile phones exports...

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Make in India success: India now 2nd-biggest manufacturing hub for mobile phones globally

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