China’s Smartphone Maker Xiaomi The premium segment is going to be stressed in India this year. He is also known for his products including Smartphone and TV. Mi Wants to establish the brand in this segment. The company will be associated with the mass market for smartphones through its sub-brand Redmi.
Xiaomi Raghu Reddy, head (online sales and categories), India, told ET, ‘Redmi and Mi have different portfolios in China. Mi is associated with innovation and premium demand. Here it is missing from our portfolio. We would like to increase it in 2020. ‘
To become the top smartphone brand in India, Xiaomi has paid special attention to the affordable segment so far. As a new strategy, it will launch many expensive phones from the Mi brand. Apart from this, it will also expand the smart-TV range with expensive products with larger screens. Reddy said, ‘We will launch several premium flagship devices under the Mi brand. Once they are launched, the difference between Mi and Redmi will be quite clear.
Mi Max Alpha may arrive in India
The company may also consider launching its concept phone Mi Max Alpha in India and elsewhere. This phone is currently being sold in China for 19,999 Renminbi. After adding duty and other expenses, it can cost Rs 2.5 lakh in India. Tarun Pathak, Associate Director of Counter Point Research believes that the Mi brand will be more attractive to Indian customers and will be able to connect strongly with them. Analysts said that having a large presence in the premium segment also provides a bigger margin.
Smartphones worth more than 20 thousand under Mi brand
Xiaomi entered the Indian market in 2014 with its Mi 3 smartphone. It then launched the Mi 4 and then the Mi 5. However, this portfolio subsequently cooled down with the company’s emphasis on increasing its core segment of Rs 6,000-15,000 through Redmi. Reddy said that Mi will focus on the segment with smartphones priced above 20 thousand rupees.
Growing fast in India Premium smartphone Segment of
According to Counter Point’s data, the premium smartphone segment in India is growing rapidly. In the December quarter, it increased by 66% compared to the same period last year. Reddy said, ‘We believe this segment is beneficial for us. We should put our energy in this segment.
Online and offline tracking
In India, Xiaomi has a large distribution and offline retail network along with its Mi Home setup. This will help in the premium segment. Reddy said, ‘We will make online and offline equally big partners. We will also ensure that we have the same set of products for both brands.