The Centre plans to restrict selling smartphone devices cheaper than Rs 12,000 ($150) of Chinese firms to kick-start its faltering domestic industry, news agency Bloomberg reported on Monday. According to the report, this move by the government, if implemented, could deal a severe blow to the Chinese brands, including Xiaomi Corp. Quoting sources, Bloomberg said the move is aimed at pushing Chinese majors out of the lower segment of the world’s second-biggest mobile market. It coincides with mounting concern about high-volume brands such as Realme and Transsion undercutting local manufacturers, the sources said. Curbs on India’s entry-level market would hurt…