Investigation of tax evasion of Rs 7,300 crores going on against several Chinese smartphone companies. Market share of Chinese phone companies may decrease in the country, investigation of tax evasion of Rs 7,300 crores going on against many companies | NewsBust Investigation of tax evasion of Rs 7,300 crores going on against several Chinese smartphone companies. Market share of Chinese phone companies may decrease in the country, investigation of tax evasion of Rs 7,300 crores going on against many companies | NewsBust

Business

Investigation of tax evasion of Rs 7,300 crores going on against several Chinese smartphone companies. Market share of Chinese phone companies may decrease in the country, investigation of tax evasion of Rs 7,300 crores going on against many companies

By Amit - October 1, 2022

feature img
  • Hindi News
  • Business
  • Market Share Of Chinese Phone Companies May Decrease In The Country, Investigation Of Tax Evasion Of Rs 7,300 Crores Going On Against Many Companies

New Delhi18 minutes ago

  • copy link

Chinese smartphone companies may lose their market share in India due to government pressure. Rating agency Fitch has said this quoting the report of market watch firm Counterpoint and IDC.

Chinese companies may lose market share
Fitch’s report said, ‘Demand in India will remain strong. But the recent action taken by government agencies against Chinese smartphone companies will show effect. Chinese companies may lose market share.

Xiaomi’s share in the Indian market declined by 32%
Indian revenue agencies are probing allegations of tax evasion of around Rs 7,300 crore against Oppo, Vivo India and Xiaomi. Its effect is beginning to be seen. For example, Xiaomi’s share in the Indian market has declined by 32% since the second quarter of 2021.

Strong penetration of Chinese companies in the smartphone market
As of June, 4 of the top-5 smartphone companies in the country are from China, which has 63% market share. Samsung is not the only Chinese company in the top-5. Chinese company Xiaomi is at the top with 19% market share. However, its market share has decreased significantly compared to last year.

There is more news…

Amit

Related Stories

Latest Article

Sports

Defeated in two sets against the Austrian pair in the first match. Australian Open 2023; Rohan Bopanna’s loss in Men’s Doubles

Updated January 2023

Education

Now apply till January 23, exam will start from March 15, 2023. Now apply till January 23, exam will start from March 15, 2023

Updated January 2023

Business

Dollar Vs Rupee Rate Today 20 January 2023 Rupee Gains 21 Paise To 81.15 Against US Dollar In Early Trade

Updated January 2023

Technology

Pre-booking of premium hatchback can be done by paying only 11 thousand rupees. Hyundai Grand i10 Nios Facelift to launch today

Updated January 2023

Business

It is three times bigger than the old building, the work was to be completed in November 2022. Government released pictures of new Lok Sabha chamber

Updated January 2023

India

Men Did Amazing Dance On Madhuri Dixit Song Maar Daala Internet Loves It Says They Are Killing It See Funny Viral Video

Updated January 2023

Travel

Wyndham Opens Hotels in Thailand and Vietnam

Updated January 2023

Technology

Expensive cars like Lamborghini, Bentley, Rolls-Royce are being sold for cash. Luxury car companies made sales records

Updated January 2023

Education

Quit government job, was a chemistry graduate… himself made Nirma’s formula. Quit government job, was a chemistry graduate… himself made Nirma’s formula

Updated January 2023

India

Video Shows Delhi Women Panel Chief Swati Maliwal Midnight Scare – Where will you leave me….? Swati Maliwal’s molestation video surfaced

Updated January 2023

Business

The Supreme Court upheld the order of NCLT, said – there is no flaw in the CCI report. Supreme Court refuses to stay CCI fine on Google, asks tech giant to deposit penalty amount

Updated January 2023

Education

Candidates up to 40 years of age will be able to apply till January 31. Candidates up to 40 years of age will be able to apply till January 31

Updated January 2023

India

The police got it cleaned immediately, said – this is not a security related issue. Slogans of Khalistan Zindabad written on the wall in Delhi

Updated January 2023

Sports

PSG Vs Riyadh XI was the chief guest in the friendly match. PSG Vs Riyadh XI Bollywood star Amitabh Bachchan meets Messi-Ronaldo

Updated January 2023

Sports

Stopped the person making the video, Kohli had arrived in another flight after Team India’s arrival. Virat Kohli who came to Raipur got angry at the airport india new zealand cricket 2023 in raipur

Updated January 2023