Xiaomi India President Goal is to become the most popular smartphone brand in India
Xiaomi India President's goal is to be the top smartphone brand in India
【Phoneauto News】According to foreign media reports, Xiaomi has made a strong determination in the Indian market to regain lost market share in the sub-segment market of 10,000 to 15,000 rupees. Muralikrishnan B, President of Xiaomi India, revealed the company’s new strategy, which is to become the “most popular and trusted smartphone and IoT brand in India,” focusing on efficiency, sustainability, and security foundations. Phoneauto has also learned that Xiaomi plans to streamline its product portfolio and prioritize comprehensive coverage of 5G products in India.
Muralikrishnan said that most devices sold in the high-end market (market above 30,000 rupees) have 5G capabilities, and they will expand to the market segment of 15,000 to 20,000 rupees. However, the huge opportunity for 5G lies in the range of 10,000 to 15,000 rupees. He believes that Xiaomi clearly has the opportunity to replicate what it did in the 4G era and recreate the magic of 5G.
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Counterpoint Research data shows that smartphone sales in the price range of 10,000 to 20,000 rupees sharply declined by 34% in March 2023, while sales of smartphones priced above 45,000 rupees increased by 66%. For the Xiaomi brand, its shipments in India declined by more than 20% last year. Foreign media believe that intense competition, component shortages, and overly extensive product portfolios have led to confusion among customers and retailers, which has caused this situation.
Muralikrishnan said that he is confident in focusing on the sub-segment market of 10,000 to 15,000 rupees, as devices such as Redmi Note 10T 5G, Redmi Note 11T 5G, and Redmi 11 Prime 5G have received positive feedback. In order to drive business development, Xiaomi will expand its offline retail coverage and plans to increase the number of retail store salespersons from 4,000 to over 8,000 by the end of the year, focusing on building strong retail capabilities for sustained growth.
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