China’s BBK Electronics is on the verge of becoming the world’s largest smartphone company very soon. BBK Electronics, which started operations in the year 1995, has today become the world’s largest electronic supply chain controlling company.
Which is the largest smartphone company in India? If you are asked to answer this question, you will probably take the name of Samsung or Xiaomi, but in reality it is not true. China’s BBK Electronics is currently the largest smartphone company in India. It occupies about 40% of the smartphone market in India. Now this company is facing charges like tax evasion and money laundering. ED and DRI have also raided the offices of the company. Let us know how big is the empire of BBK Electronics…
This company’s smartphone is in every household,
you have hardly heard the name of BBK Electronics, but every fourth Indian who has a smartphone uses this company’s phone and the name of this company’s phone brand is recognized in every household. Yes, BBK Electronics has not one or two but five popular smartphone brands in India. Vivo, Oppo, OnePlus, RealMe and iQOO all these smartphone brands belong to BBK Electronics.
There is a smartphone for everyone in cheap and Heigh cost
BBK working on a multi-brand strategy has created a smartphone brand for almost every segment of the customer. For mid-range smartphones or for selfie lovers, where there are brands like Vivo and Oppo. At the same time, the company has created Reality to compete with Xiaomi and in the premium mid-range. In the premium phone segment with great features at a low price, the company has a brand like OnePlus, so it has an IQ brand for gaming enthusiasts.
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Charges of Tax Evasion, Money Laundering
Recently, two brands of BBK Electronics have been accused of tax evasion and money laundering in India. The Enforcement Directorate (ED) and Directorate of Revenue Intelligence (DRI) have intensified the investigation against both of them. Last week, the ED attached 10 bank accounts of Vivo India before taking action against it in a money laundering case.
After this, 48 offices of the company and 23 associate companies were raided. Later, the company moved the Delhi High Court and was allowed to access its accounts subject to certain conditions. This includes keeping a bank guarantee of Rs 950 crore and maintaining a balance of Rs 250 crore in bank accounts in every case.
Similarly, DRI has started investigation against Oppo India for tax evasion of Rs 4,389 crore. According to a statement by the Finance Ministry, the DRI has recently raided the offices of the company and the houses of several management officials.
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This Company is World’s largest smartphone company
China’s BBK Electronics is very soon on the verge of becoming the world’s largest smartphone company. BBK Electronics, which started operations in the year 1995, has today become the world’s largest electronic supply chain controlling company. On the other hand, if we look at the global level, then the market share of the company’s Oppo brand is 10% and that of Vivo is 8%. While Apple has 18% and Xiaomi has only 13% market share.
