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India’s recent currency reform reportedly has made local consumers become less willing to make purchase and has impacted smartphone sales in the country; however, Compal Electronics, Wistron and Inventec, which have plants in India, are only seeing limited impact since their manufacturing in the country is still rather small scale, while brand vendors such as Acer and Asustek Computer are closely monitoring the outcome, according to a Chinese-language Economic Daily News (EDN) report citing the vendors as saying.
Foxconn’s plants in India has reportedly been seriously impacted by the new policy and its shipments are down 50% as Foxconn has been supplying smartphones to local brand vendors. Foxconn is now running a policy of non-paid leave at the plants in India.
Compal and Wistron both noted that their plants in India are still at the initial stage and will not see much of impact, while Inventec’s plants in India have not yet begun operations and will not be affected by the policy.
However, Asustek confirmed that the company has seen dropping transactions and consumers in India becoming less willing to purchase IT products. Asustek has already reduced promotional activities, but believes the policy will have a positive influence on the market in the long term, the report noted.
Currently, Asustek has a market share of 2-3% in India’s smartphone market and is a top-10 vendor. The company’s goal for the market is to push its share to 5%.
Acer, on the other hand, is still seeing stable sales in India, but is closely monitoring any future changes, the report added.
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