After making a mark in the feature phone market within a year, HMD is now eyeing the top spot. The Finnish firm wants to clinch a significant share of the smartphone market that is currently dominated by Asian manufacturers.
Pekka Rentala, chief marketing officer of HMD, has set the standards of the local market as a global benchmark. Unlike earlier, when Nokia used to dominate the market, its market share is less than 10 per cent. The market has over 200 handset brands.
While, Nokia has an established e-commerce channel in Europe, penetrating offline and online distribution channels in India is crucial. However, the emergence of brands such as Vivo and Oppo had made the job difficult, he added. Instead of penetrating the market with high margins and discounts, Nokia will offer products that are value for money.
“The dynamics of the market are changing constantly and consumers, operators and manufacturers play crucial roles. We are focused on sustainable growth. Constant fluctuations are neither good for us nor our partners,” he said. Despite competition, the firm has managed to rope in over 100,000 retailers and 510 exclusive distributors.
HMD partnered Foxconn in 2016 for manufacturing handsets locally.
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