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To meet the criteria for the Performance Linked Incentives (PLI) scheme, shipments of ‘Make in India’ smartphones grew 16 per cent year-on-year to 44 million units in the first quarter of this financial year, according to a new report.
The Indian government’s drive with several PLI systems is showing a positive impact and “we have seen an increased share of local manufacturing in product segments such as smartwatch, TWS, neckband and tablet,” Counterpoint Research said.
In ‘Make in India’ smartphone shipments, OPPO led with 24 percent share, followed by Samsung and Vivo.
Lava led shipments of standard phones with a 21 percent share.
“OPPO recently announced the Vihaan initiative, under which it intends to invest $60 million over the next five years to strengthen the local supply chain. Samsung has also increased its production of premium segment smartphones, especially the Galaxy S series,” said senior research analyst Prachir. Singh.
In the smartphone segment, in-house manufacturing accounted for nearly 66 percent of total ‘Make in India’ shipments in the June quarter, while the remaining 34 percent of shipments came from third-party EMS (electronics manufacturing services) players. .
Among the third-party EMS players, Bharat FIH, Dixon and DBG were the leading players during the quarter.
Padget Electronics (396 percent YoY), Wistron (137 percent) and Lava (110 percent YoY) were the fastest growing smartphone makers during the quarter in terms of shipments.
“We may also see disbursement of PLI incentives during Q3 2022, which will further boost local manufacturing sentiment,” the report said.
Optiemus leads the supply of Made in India smartwatches with over 75 percent share.
In the wearables segment, TWS led in terms of domestic production with a 16 percent contribution, followed by neckbands and smartwatches.
In TWS, the top three manufacturers are Optiemus, Bharat FIH and Padget.
In the neckwear category, VVDN and Mivi have a 90 percent share of the “Make in India” shipments.
In the tablet category, the top players are Wingtech, Samsung and Dixon, while in the TV category, Dixon, Radiant, Samsung and LG have a 50 percent share.
“The government aims to make India an electronics manufacturing hub in the next four to five years. To help support other initiatives under ‘Make in India’ and ‘Digital India’ themes, the government in its latest budget has pushed the total allocation to 936, 2 million dollars,” said research analyst Priya Joseph.