Now you will not be able to buy Chinese phone less than 12 thousand! government has prepared
Highlights
- Trying to reduce the share of mobile market China
- Xiaomi shares fall
- The government has already banned Chinese products
Smartphone: cheap in coming days in india Phone Bad news for buyers. According to government sources, the central government is preparing to ban the import of Chinese phones worth less than Rs 12,000. Although this news has not been fully confirmed yet, but it is believed that the government can take these strict steps soon to promote domestic companies.
Trying to reduce China’s stake
India is one of the largest mobile market in the world. Experts believe that the real reason behind doing this is to reduce the share of China in the world market. Due to this, giant mobile companies like Xiaomi, Oppo, Vivo may have to suffer a lot. According to market tracker Counterpoint, the market share of smartphones under $150 is one-third of the total smartphones sold in India in the June 2022 quarter, with Chinese companies contributing up to 80%.
According to Counterpoint Research, while itel led the smartphone segment under Rs 6,000 with 77 per cent share, Tecno grabbed the second position in the under Rs 8,000 smartphone segment in the country.
Vivo accused of tax evasion
DRI unearths customs evasion of around Rs 2,217 crore by Vivo Mobile India Pvt Ltd. A show-cause notice has been issued to Vivo India seeking customs duty of Rs 2,217 crore under the provisions of the Customs Act. Since April 2020, out of 382 foreign direct investment (FDI) proposals received from Chinese firms to the central government, India approved only 80 on June 29.
Xiaomi shares fall
Since this news, Xiaomi shares recorded a record fall in the last minutes of the Hong Kong stock market on Monday. It went down 3.6%. If the government approves this decision, then the company may have to bear heavy losses in future also.
Has already banned Chinese products
The scissors of the Modi government at the Center have already run on Chinese products. Earlier this year, the Indian government decided to ban 54 Chinese apps posing a threat to India’s security. These included many apps like Beauty Camera-Selfie Camera, Equalizer and Base Booster. These restrictions were imposed citing threats to the security, sovereignty and integrity of India.
After banning a total of 270 apps in 2020, the government has again banned 54 apps in 2022. These apps were banned under section 69A of the IT Act. The Indian government had earlier banned many popular apps including Tiktok and PUBG Mobile.
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