China dominates India's mobile market, and it may be eyeing automakers next. The coronavirus outbreak is hurting China's economy.
From China to Chandni Chowk: 72%. That's the share commanded by Chinese companies in India's smartphone market as of 2019. Xiaomi and BBK Group (which owns OPPO, Vivo, Realme and OnePlus) comprise the lion's share of this market.
And the mobile Sinopshere is only going to expand as these companies invest increasing sums of money to fund their expansion and local rivals (like Micromax, Intex, Lava and Karbonn) watch helplessly.
As the Chinese takeover of the Indian mobile market nears completion, China's companies may now have their eyes set on another market - that of the auto and electric vehicle industry. Click here for details.
ICYMI: China is dealing with a coronavirus outbreak that has seen 80 lives lost, 2,800 cases from every province, and 15 cities with a combined population of over 57m people in full or partial lockdown. CNN
This has also hurt the country's economy. Overall travel on Saturday, the first day of the Lunar New Year, a celebration that usually sees brisk travel, dropped 28.8% from a year ago, with air and rail travel plummeting by more than 40%. At the same time, the Government is asking people and businesses to stay at home, major public events have been cancelled, and travel has been restricted. And state funds worth $1.6bn have been issued to control the epidemic. Officials indicated on Sunday that the disease will remain an issue for the near future. CNBC
For more details on what coronaviruses are and why they are dangerous, read our earlier cover note on the subject here.
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