Indkal Paving the Way for Acer's Entry Into the Indian Smartphone Market The Acer-branded smartphones are likely to be priced between INR 15,000 to INR 50,000
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Acer has joined hands with Indkal, a technology and innovation company producing consumer electronics products. This strategic deal marks the introduction of the Taiwanese electronic giant into the booming Indian smartphone market. "We are excited that Indkal Technologies will further this mission in India by providing a wide range of smartphones under the Acer brand that expand end user choices and enrich their experience in the India market," Jade Zhou, VP of Global Strategic Alliances at Acer, said in a statement, via ET.
Indkal has partnered with Acer to design, manufacture, and distribute smartphones under the Acer brand. These smartphones will offer impressive specs, cutting-edge hardware and advanced software features at affordable prices, ranging from INR 15,000 to INR 50,000. Catering to the "value-for-money" segment, these devices will be available for purchase through both online marketplaces and offline retail stores across India, making them easily accessible to consumers nationwide.
"Acer smartphones are something we have been working on for a couple of years and we are ecstatic to announce the foray finally. Our customers will experience exceptionally well-designed smartphones with high-end processors, top-notch camera technology and a host of premium features across the range," said Anand Dubey, CEO of Indkal Technologies, via BusinessLine. This announcement comes a month after Indkal raised $36 million in its maiden fundraising round. The funding was led by Mauritius-based Aries Opportunities Fund. The company recorded a gross turnover of INR 750 crore last year.
India making strides in the global smartphone market
Along with companies making phones in India as well as selling it, India is also catching up with the export side of business. India is rapidly closing the gap with China and Vietnam in mobile phone exports. While China remains the leader, India is gaining significant ground. Chinese exports dropped by 2.8 per cent to $132.5 billion in FY24, and Vietnam experienced a sharper decline of 17.6 per cent to $26.27 billion.
In contrast, India's mobile phone exports surged by 40 per cent to $15.6 billion in FY24, with iPhone exports constituting 65 per cent of the total. According to a report from ET, India has captured nearly 50 per cent of the export reductions from China and Vietnam, amounting to $9.4 billion.
The Indian government's smartphone production-linked incentive (PLI) scheme has been crucial in driving this growth, attracting major companies such as Apple, Foxconn, Pegatron, and Wistron to set up factories in India. Read more.
