Tencent Technologies News, Sept. 6, said on Friday that since it began operating in India five years ago, the company has shipped more than 100 million smartphones in the Indian market. India is the most important market for millet. The company cited data from research firm IDC in its statement.
Millet has topped the list of smartphone vendors in India for eight consecutive quarters. The company said red rice and red rice Note, the cheap smartphone line, had been its best-selling products in India.
In India, the world's fastest growing smartphone market and the second largest, most phones sell for less than $200. The price of millet's mobile phone is higher than that of similar products. From the day it started operating in India, millet has strictly followed the characteristics of the local market. The company said it never made more than 5% profit on any hardware product it sold.
In a statement, Manu Jain, Vice President and General Manager of Millet India Business, said that Millet's milestone achievements today prove that Millet has been loved by millions of fans since its inception. Manu Jain also said that other brands had entered the Indian market before millet, but it was far from the impressive results millet had achieved.
India alone has sold 100 million smartphones, a remarkable achievement for millet, which operates in dozens of markets. The company shipped 100 million mobile phones worldwide (including India) in about 10 months last year, setting a record for the company.
India has become the most important market for millet in recent years as domestic competition intensifies and global smartphone shipments slow down or decline. In the first two years of millet's entry into the Indian market, it relied mainly on selling mobile phones online to cut costs. But in the years since then, millet has gained a foothold in the real market and continues to drive most sales in India.
Millet has previously said it expects to open 10,000 physical stores in India by the end of this year. By then, the company expects the offline market to boost half of its sales. Millet says it has created more than 20,000 jobs in India, the vast majority of which are occupied by women.
Although smartphones remain its main business in India, millet has also brought a range of other hardware products to India and established software services for the local market. Millet has also played an investor role in supporting startups, including ShareChat, a local social network that recently raised $100 million from Twitter and other companies, KrazyBee and Zest Money, financial technology startups, and Hungama, a maker of entertainment applications.
In a recent interview, millet executives said they had a dedicated team in India that closely monitored investment opportunities for local start-ups. (Tencent Technological Revision/Yujia)