Chinese handset maker Tecno on Thursday said it is keeping a close watch on coronavirus outbreak and does not plan any price hikes as of now.
The brand, which is a part of Transsion Holdings, is also working on further solidifying its position in the Indian market in the sub-Rs 10,000 category this year as it expands presence in offline retail stores and brings in new products.
"India continues to be an important part of our story and we will continue to bring in innovative products. Our aim is to be among the top 5 players in the offline segment in under Rs 10,000 catgeory. We are at sixth position currently," Transsion India CEO Arijeet Talapatra told PTI.
He added that the targeted segment sees shipment of about 70 million units annually.
According to Counterpoint Research, Indian smartphone market registered shipment of 158 million units in 2019, up 7 per cent over the previous year. India is now the second largest smartphone market after China.
Talapatra said the company is witnessing strong demand from tier III and IV towns in the country.
"We are bringing in our Camon 15 and Camon 15 Pro, part of our camera-centric series, that we feel will reshape daytime, low-light and night time photography for India's mid-budget consumers," he added.
Priced Rs 9,999 onwards, the phones will go on sale on February 25 and will be available across over 35,000 offline retail stores, Talapatra said, adding that the company is working on further expanding its retail presence.
On the coronavirus outbreak, Talapatra said the impact is being felt by the entire industry.
"We have a manufacturing base here and we had stocked in advance keeping in mind the Chinese New Year break and new launches. However, we continue to be watchful and hope the situation will improve soon," he added.
He said the company does not expect prices of its devices to go up in the near future on account of coronavirus outbreak, but continues to be watchful.
While phone companies have set up manufacturing in India, many components continue to be imported from China.
The companies had stocked in advance for Chinese New Year break, but the coronavirus outbreak has caused disruption in production and supply of many key components. Though some factories have re-opened, they are working with minimal staff.
The travel ban for executives is also likely to affect product planning and new launches.
Xiaomi, India's biggest smartphone vendor, had announced increase in price of its Redmi Note 8.
Attributing the price hike to supply constraints, the company had said the increase is temporary and is likely to return to original price once cost of component stabilises.
Earlier this week, Apple had warned investors that the ongoing coronavirus outbreak is hurting its business more than previously expected as its production in China has been hit.
"Work is starting to resume around the country, but we are experiencing a slower return to normal conditions than we had anticipated," the company had said.
Latest figures from China showed the death toll from coronavirus surging beyond 2,000 with more than 74,000 people infected, although the rate of new cases is slowing.
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