Amazon is actively entering the Indian market. Yesterday, the company announced that it will cooperate with Cloud Network Technology under the Hon Hai Group to set up its first production line in Chennai, India to produce Fire TV Stick devices. At the moment, one hundred thousand TV sticks are available for local consumers to purchase. In the future, they will expand the production capacity depending on the needs of the Indian market.
Also Read: Amazon One Payment System Allows Making Payments By Shaking Hands
The Fire TV Stick is a TV streaming device designed by Amazon. According to a survey conducted by Strategy Analytics last year, the market for TV streaming devices has reached $1.1 billion. The major global manufacturers are Samsung (14%), Sony (12%), LG (8%), Hisense (5%), TCL (5%) and Amazon (5%). As for the market share of Google and Apple, they are 3% and 2% respectively.
Gizchina News of the week
Shri. Ravi Shankar Prasad, Minister of Communications, Electronics and Information Technology of India, stated that India is going to become a major player in the global electronics and IT product supply chain. Amazon’s establishment of a local production line will increase India’s domestic production capacity and create more job opportunities.
“Made In India” Gains Momentum
Amit Agarwal, Amazon’s senior vice president in charge of the Indian market, said that Amazon has pledged to invest $1 billion to assist India’s 10 million SMEs in digitizing and helping India export products to the world. The goal deadline is 2025. The cumulative export value of $10 billion and the creation of 1 million new jobs are in line with the commitment to “Made in India” promoted by the Indian government.
The Indian government put forward the “Make in India” initiative in 2014. It wants to encourage companies to produce devices in India or invest in India’s production capacity. Not only Amazon, but also Apple and Samsung have begun to produce smartphones and tablets in India.
