Stressing that the economic growth must be gender neutral, he pointed out that the government has successfully changed the earlier narrative which credited the growth of the economy to the contribution made by men and men alone.
Global smartphone brand Xiaomi which has maintained top position in the smartphone shipments in India for 17 consecutive quarters, is fast losing market share in India and since Q1 2020, it has shed 8 per cent market share amid rising competition and supply chain constraints.
In Q1 2020, Xiaomi registered a solid 29 per cent market share in the highly-competitive India market, according to Counterpoint Research data.
Since then, the graph is spiralling downwards, slowly but steadily, and in Q4 2021 (the festive quarter), Xiaomi logged 21 per cent market share — according to latest data coming from market research firm Canalys — which is a massive 8 per cent decline from Q1 2020.
The company, however, still maintained the lead in Q4 2021 with shipping 9.3 million units in the country, said Canalys.
According to industry analysts, Xiaomi has been hit by component shortage in the mass-market, entry-level segment where its rival brands are rapidly gaining with riding on a new chipset player called Unisoc.
In the premium segment where Xiaomi is aiming to gain footprint with launching top-of-the-line devices, Apple doubled its market share in India in 2021, on the back of increased share of domestic manufacturing, aggressive retail initiatives, and robust consumer demand.
Certain brands which picked entry-level chipset provider Unisoc in the mass-market affordable segment amid the global chip shortage were able to meet the demand in the mass-level market, while Xiaomi lost on the opportunity as it was hit by supply issues in the all-important festive quarter (October-December).
According to market research firm Techarc, entry-level chipset provider Unisoc saw two out of six smartphones launched in the entry segment (up to Rs 6,000) for 2021.
On the other hand, Apple doubled its market share in the premium segment in India in 2021, selling 5-6 million units last year, thus narrowing the margin for other smartphone players in the premium category.
Apple shipped a record 5.4 million iPhones to India in the entire year, and 2.2 million in the festive quarter (Q4) alone, according to Gurugram-based market research firm CMR.
On the quarterly basis, the Cupertino-based giant registered 34 per cent growth in the October-December period.
Prabhu Ram, Head-Industry Intelligence Group, CMR, said that Xiaomi has had to face tough headwinds in Q4 2021 owing, among others, to the prevailing supply side dynamics.
“As the brand pegs its future growth on the premium smartphone segment, it will face-up to increased competition from its closest rivals. While doing so, Xiaomi will need to drive its brand salience among premium smartphone buyers to attain sustainable market gains,” Ram told IANS.