Over the summer, we were told during the conference call that we would get a regional player releasing a product in the fall. That was delayed. Diwali is the Indian gift-giving season, happens in the fall. They did some tweaking of the currency in India in the fall (Demonetization). Now they're going to be disrupting at the high end and the low end.
EconomicTimes.indiaTimes -- more at the source. Q) But with Chinese brands putting in top dollars and you holding back, you are losing market share which will be difficult to regain later?
It is not about losing ground. It is all about what at what time. If we start doing the same thing, we start burning the same amount of money. We wanted to do it (launches) right after Diwali. But post Diwali, demonetization happened. Now we will be coming up with products that are high end and also products which are in the lower end segment. We will cause disruption at both spots.
"Not necessarily an American holiday." I know when I'm going to be watching Micromax very closely..... Diwali Festival
Diwali is one of the biggest festival of Hindus, celebrated with great enthusiasm and happiness in India. The festival is celebrated for five continuous days, where the third days is celebrated as the main Diwali festival or 'Festival of lights'.
Different colorful varieties of fireworks are always associated with this festival. On this auspicious day, people light up diyas and candles all around their house. They perform Laxmi Puja in the evening and seek divine blessings of Goddess of Wealth. The festival of Diwali is never complete without exchange of gifts. People send for diwali to their near and dear ones.
Chinese Phone companies pulling out the stops NEW DELHI: Smartphone makers Oppo, Vivo BSE 0.00 % and Gionee are pulling out all stops to make this a Chinese Diwali, spending over Rs 80 crore each on presence across retail stores and on marketing and advertising, double of what their Indian rivals are expected to spend.
Indian players including Micromax, Intex, Karbonn and Lava would be investing an average of about Rs 45 crore, as handset makers vie for higher market shares in the months that make up nearly quarter of the country's annual phone sales by value. Market leader Samsung and Apple will be fighting it out in the premium -- Rs 30,000 upwards -- segment, spending upwards of Rs 100 crore each.
"This year, we are going a step ahead and yes, we are investing more this year to serve our young consumers," said Sky Li, vice president of Oppo Electronics, which will use television ad slots as a major platform to reach a wider range of consumers, including metros, tier 2 and 3 cities.
