Reputed Smartphone brands like Samsung, Lenova, Micromax, Xiaomi and One plus have gone on a stocking spree in anticipation of a grand Diwali, a period that accounts for 33% of their annual sales, according to Counterpoint Technology Market Research. Commencing October, the sales of smartphone sales peak largely due to Diwali. Samsung imports along with local production jumped 12% to touch 28.3 million for the quarter ending Sept 15. Excluding Samsung, shipments for other brands rose more than 6% in October alone.
Stocking up by different brands.
The popular Chinese brand Oneplus has even diverted stocks from their global market to India, the third world’s largest market. “We are experiencing a very strong growth in demand for all our products during the festivals and our factory is aligned to meet this growing demand,” a spokesperson for South Korea’s Samsung said, declining to share numbers. According to a spokesperson, “”We are experiencing a very strong growth in demand for all our products during the festivals and our factory is aligned to meet this growing demand,” Besides launching 2 affordable smartphones this week, to prepare for the expected surge in consumer demand, the company has increased shifts at its factory in Noida.
Gioneee has imported 2,10,000 units in the past 12days, a big leap from 2,40,000 for the entire period of September. Lenova has stocked 1.48 million pieces, with a month on month increase.
“In India, it’s almost a mad rush. It’s difficult for someone not from India to fathom how quickly such large quantities can sell — that’s Diwali,” said Vikas Agarwal, head of India operations for OnePlus. According to industry experts, this stock buildup is not unusual for this quarter of the year, but it is of greater value for smartphone marketers hungry to increase their presence in a rapidly growing and cut throat market. This is also the most critical period of the year for them.