Alphabet Inc.'s Google is gearing up to manufacture smartphones in India, with the highly anticipated Pixel 8 poised to hit the market next year. This move solidifies Google's commitment to the Indian tech scene, aligning with a global trend of prominent companies establishing production facilities in the South Asian country.
During a recent Google for India event, Rick Osterloh, the senior vice president of devices and services at Google, announced that the tech giant is forging partnerships with both international and domestic manufacturers to locally produce Pixel smartphones. Osterloh expressed Google's dedication to making India a top-priority market for Pixel smartphones, intending to deliver cutting-edge hardware and the integrated software experience to consumers throughout the nation.
Although specific details on production volume and factory locations remain undisclosed at this time, Google's investment in India appears to be significant and forward-looking. The company is not only focusing on smartphone production but also expanding its services.
In a significant move, Google unveiled plans to enable users to reserve metro tickets directly through the Google Maps app. This feature enhances the utility of Google Maps and streamlines public transportation access for users in India.
Moreover, given Google's substantial presence in the digital payment landscape with Google Pay, the company announced its collaboration with Indian non-bank lender, DMI Finance. This partnership aims to provide small loans for merchants, starting at 15,000 rupees ($180). Google Pay has already been facilitating loans through various lender partnerships and will soon offer credit via UPI, a feature recently approved by the central bank, in conjunction with major banks. This foray into lending coincides with a surge in demand for small personal loans in India, which has raised concerns at the Indian central bank.
India holds a pivotal role in Google's growth strategy, primarily due to the widespread adoption of its Android ecosystem, which powers the majority of smartphones in the country. Nonetheless, Google faces both business and regulatory challenges in India, with startups and companies such as Disney legally challenging certain in-app policies. Additionally, Google is currently entangled in several antitrust disputes, including allegations of abusing its position within the Android market.
Prime Minister Narendra Modi has openly welcomed Google's plans to establish a global fintech operations center at the Gujarat International Finance Tec-City (GIFT). This move was discussed during a recent virtual meeting with Alphabet's Chief Executive Officer, Sundar Pichai.
India has emerged as a key target for many global companies, including Apple, which is projected to capture 7% of all smartphone sales in the country from July to December, as reported by market researcher Counterpoint. Furthermore, U.S. memory chip manufacturer Micron Technology has recently unveiled its intentions to set up its first semiconductor plant in India. This indicates the growing allure of India as the next significant growth market for tech giants across the globe.
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