Xiaomi India has revealed an approach to investing significantly in the Rs 10,000-15,000 device market. The company’s president, Muralikrishnan B, intends to become “India’s leading smartphone” and an IoT brand, focusing on efficiency, sustainability, and security.
Xiaomi India plans to simplify its product lineup and promote the adoption of 5G in India. Muralikrishnan B highlighted the dominance of 4G mobile phones in the 10,000-15,000 rupees range, stating that most 5G devices in the market are priced above 20,000. Therefore, the company aims to replicate its 4G era success in this price range and make 5G more accessible. Consequently, Xiaomi will prioritize the launch of a flagship 5G smartphone over many products.
To address the challenge of declining sales, Xiaomi India plans to expand its offline retail coverage to foster business growth. They intend to increase the availability of their products and bolster sales by deploying over 8,000 salespersons in retail stores by the year’s end. Additionally, the company will introduce more mobile phone models suitable for the 10,000-15,000 rupees market segment, including Redmi Note 10T 5G, Redmi Note 11T 5G, and Redmi 11 Prime 5G.
Unlike some Chinese counterparts, Xiaomi India has decided against forming a joint venture with any Indian company to take advantage of the government’s Production Linked Incentive (PLI) scheme. Instead, they will remain a wholly-owned subsidiary of the Chinese company.
In March 2023, mobile phone sales in the Rs 10,000-20,000 range witnessed a 34% decline, while high-end smartphones priced above Rs 45,000 experienced a growth of 66%.
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