The sudden lock-down in India due to Coronavirus will not affect Xiaomi business – An Insight
The outburst of Coronavirus has not only claimed human lives, but has also slowed down the world economy considerably. With many countries going under an indefinite period of lock-down, uncertainty has crept into the global business scenario including the smartphone industry. China being the epicentre of this sudden pandemic outbreak, many tech giants like Apple have shifted their production units from China to other potential countries.
Chinese smartphone manufacturer, Xiaomi has said that the current scenario will not impact their business in India. Many people are speculating the slowdown of the smartphone business due to the lack of supply in components that came in from China. However, brands like Xiaomi are not affected by this as they think their business will not slow down.
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The main reason behind the optimism is that their supply chain partners have been doing a great job of keeping the components ready. This is a critical factor for Xiaomi because a considerable facilitator for success of its global sales is its stronghold in India. They are hopeful that the coronavirus scare will not affect their business here.
However, due to the GST regulations, Xiaomi mobile phones are going to be expensive. The tax on mobile phones has been increased from 12% to 18% which might pose a challenge for their profitability.
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Xiaomi has been launching various smartphone models in India at regular intervals. The recent one is the RedMi Note 9 Pro series. Along with phones, Xiaomi has also launched their LED television series which has become popular in India. However, this business might have taken a hit as the television sets are assembled abroad and then imported unlike the smartphones which are assembled locally. Even as the company tries hard to maintain the television sales despite the crisis, they are quite positive about the smartphone business thriving in India.
Though, there has been a setback to the entire economy due to the COVID-19 outbreak, brands are hopeful that things will soon return to normal and the smartphone industry will review in no time.
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