Nothing CEO Carl Pei has once again shown his appreciation for the India, stating that he is very bullish on the country now that the China story is slowing down. Pei also talked about Nothing’s explosive growth in the Indian market and challenges of setting up manufacturing in India.
In an interview with TechCrunch, Pei said, “Now that the China story is slowing down a lot, I am very bullish on India”. Notably, Pei had lived in China during 2011-21 where he co-founded OnePlus and was a key member of the company’s leadership team.
India is biggest market for us: Carl Pei
Carl Pei while talking about the quarter 3 numbers for Nothing said that ‘India is the biggest market’ for the company for smartphones and Nothing is the only brand with ‘differenciation’ in the Indian smartphone market dominated by Chinese brands.
Answering a question about the importance of India for Nothing, Pei said, “It’s the biggest market for us for smartphones… There’s actually not a lot of competition. If you think about it, 80% of the market share in India. Are these Chinese smartphone brands. Samsung is like, maybe 15 to 18% and Apple is very small, because it’s very expensive.”
“The Chinese brands, they compete on price and spec. Like good quality, good spec, good performance, good price, but they take 80% of the market share, and there’s no differentiation between their products. So if you were to not look at the logos of those phones, consumers wouldn’t be able to tell what’s what. We are the only company with differentiation in the market.” Pei added
Carl Pei also noted that it was ‘painful’ to set up the 2 manufacturing facilities in Noida and Chennai. He stated that because Nothing makes transparent products, it was a big pain point to stop the dust from entering the product.
“Our products are transparent. So even if there is like one spec of dust in the product, the consumer is going to complain” Pei added
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Published: 02 Nov 2024, 02:54 PM IST
