Chinese original device maker (ODM) Topwise Communication is all set to foray in India on August 18 with the launch of its brand Comio.
The company has confirmed the launch date.
Topwise Communication is also planning to invest Rs 500 crore over the next two years to mark its presence in the country.
We have been an ODM to many players, including those in India. There is a huge opportunity in India and we are keen on tapping that," said Comio CEO Sanjay Kumar Kalirona.
He further said that Comio will play in the Rs 6,000-12,000 price bracket, which is a "sweet spot" accounting for 35-40 per cent of the smartphone market in volume terms.
"There aren't many players in the offline market in this price range. Most Indian companies are focusing on sub-Rs 6,000, while other Chinese firms are looking at devices over Rs 15,000," he added.
Meanwhile, a new report by research firm India Ratings and Research ( Ind - Ra), Indian mobile phone makers' business profile has been adversely impacted due to the rapidly increasing market share of Chinese players and fierce competition.
It says that the increasing strength of Chinese mobile phone manufacturers in the smartphone market is reflected in the 3.4x growth in market share to 51 percent in quarter one of this calendar year (CY).
The report pointed out that the global vendor Samsung Electronics Co Ltd (Samsung) remained the market leader with the 28percent share in 1QCY17 (1QCY16:25 percent), the share of Indian vendors downsized to a mere 14 percent (40 percent).
Lenovo also sustained its position due to the established brands and products in the diversified price segments. Oppo and Vivo India have recorded sales increases of seven to nine times over FY17 respectively.
Ind-Ra expects Vivo India and Oppo's smartphone sales to grow by around 40 percent -50 percent over FY18