According to the Consumer Technology Sales and Forecast study conducted by the Consumer Technology Association (CTA), the revenue generated by smartphones in 2019 was valued at USD 77.5 billion.
Due to the pandemic, CTA forecasted revenue of USD 71 billion, a 6% decrease year on year. However, CTA predicts that the smartphone industry will rebound in 2021, with shipments totaling more than USD 78 billion.
Xiaomi, which recently surpassed Samsung to take the lead in Indian smartphone shipments, claims to now have seven manufacturing facilities in the country.
Xiaomi India claims that 99 percent of the phones it sells in the country are manufactured in the country. In addition, the company has begun exporting devices to Bangladesh and Nepal, albeit in small quantities.
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