Chinese brands continue to grow in Bangladesh which is now capturing 29 per cent of the market, according to a new report by research firm Counterpoint.
The increasing mood has up from 13 per cent a year ago, the study unveiled.
The report said that major Chinese brands like Huawei, iTel, Xiaomi, and OPPO have already started to make their presence felt by grabbing market share from local brands.
Counterpoint conducted the study on Market Monitor program for Q3 2017 (July-September).
Associate Director at Counterpoint Research Tarun Pathak, said, as smartphone penetration in the country increases, local brands, which are losing market share to the Chinese brands, are positioning themselves as best-placed to tailor products to local needs and preferences.
However, consumer uptake has been slow, especially after duties were increased in June 2017 and those interested in buying LTE phones waiting for LTE roll-out, now likely to happen during early 2018.
Research Analyst Shobhit Srivastava said that Chinese brands have been aggressively expanding in the Bangladesh smartphone market with low-cost offerings.
Major Chinese brands like Huawei, iTel, Xiaomi and OPPO have already started to make their presence felt by grabbing market share from local brands, he added.
The expected launch of 4G services in January 2018 will further add to the advantage of the Chinese brands, as they offer budget 4G smartphones with good specs, according to the research.
Local brands like Symphony, Walton and Winmax will have to quickly adapt to the change in the market if they want to maintain share, findings of the research read.
