Indian smartphone makers are not too hopeful over prospects of a reversal in fortunes due to the current anti-Chinese sentiments triggered by the Sino- India border tension, insisting that low-cost funding is the need of the hour to take on foreign rivals.
There have been calls for boycott of Chinese products from several quarters following the Ladakh clash that left 20 Indian Army personnel dead.
"The early trends are exciting. But, Indian handset makers need low-cost funds to counter the deep-pocketed Chinese companies," Executive Director of the Jaina Group, which owns the 'Karbonn' brand, Abhishek Garg, told PTI.
Proper intervention by the government can bring back the fortunes of Indian brands, he said.
Most Indian smartphone makers were relegated following the entry of Chinese companies in the last few years, while others turned into OEM suppliers for the overseas firms, industry experts said.
Lava International Ltd, another Indian company, said the anger among people against China and its products will not translate into more business for the firm.
"It is more of a responsibility for the country. A responsibility to grow ourselves and build such skills and capabilities that could enable us to compete in the China market as well.
"These short-term emotions will die down quickly; finally we have to beat our competition by delivering products, which provide a much better proposition than our competitors," said Hari Om Rai, one of the founders and managing director of the company.
Garg said Indian handset makers suffered on several grounds like the inability to match huge marketing spends.
Banks, too, tightened credit lines with sliding market share, he said.
According to market reports, Karbonn Mobiles, Lava International and Micromax are set to launch new models.
