New Delhi, June 30 -- India's low-margin electronics makers are risking their money on low-value bets once again. As the $43-billion domestic smartphone market remains stalled for five straight years, at least two contract-based electronics manufacturing services (EMS) firms have doubled down on assembling smartphones. This once again risks keeping the sector at wafer-thin profitability and minimal value addition.

On 18 June, Haryana-based Amber Enterprises signed a deal with Chinese electronics brand Oppo to assemble its smartphones locally. The same week, privately held Bhagwati Products Limited - with clients including China's Oppo, Vivo, Realme and OnePlus - announced that it crossed Rs.17,000 crore in revenue in FY26.

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