India’s merchandise exports jump by 17.25% in Oct
The trade deficit was widened to USD 27.14 billion. Imports increased by 3.9% to USD 66.34 billion in October compared to USD 63.86 billion in the year-ago period.
In a first hint that the company was not scaling down its operations in the country, Gionee India on Monday announced to extend its “Smile Squad” campaign till February 28 where people can buy its smartphones at attractive discounts.
The campaign, commenced on December 10 till January 31, also offers customers, existing and new, a chance to win prizes such as couple trips to Thailand and motorbikes.
“In the light of the recent customs duty hike where brands are getting ready to increase the prices, Gionee is offering its products at steal-away price points,” the company said in a statement.
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Earlier this month, the company confirmed its restructuring plans for India. Reacting to an IANS report that financial woes in China may hit Gionee’s India operations, David Chang, Global Sales Director, Gionee India, said that the brand is here to stay.
“We are in the process of restructuring our India team and executing a completely different business model for the brand in the market very soon,” Chang had told IANS.
The company had 2.2 per cent share in the Indian smartphone market for 2017, according to Counterpoint Research. The last device Gionee brought to India was selfie-centric “S10 Lite” for Rs 15,999 on December 22.
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