Xiaomi‘s efforts over the years in trying to ramp up sales have continued to gain traction. Not only is the brand the numberone in the smartphone and TV segment in India, it is also one of the leading brand in China. A recent research shows that the company is also the leading name in the second-hand smartphone market in China. The Chinese tech giant has again added another feature to its cap with an impress run in India’s premium smartphone market.
The company recently amplified this information but the research which revealed the progress in this segment was carried out by market research firm Counterpoint. The stats is contained in Counterpoint’s May 2021 market tracker. According to the report, Xiaomi cornered about 14% share of the market in the 20K-45K category. This places the company in a good pedestal as one of the leading and fastest-growing premium smartphone brands.
Xiaomi’s drive to enter into the premium phone segment, began with the Mi 10 series. The drive was continued with the latest crop of premium smartphones such as Mi 10i, Mi 11X, and Mi 11X Pro which have been released in India. It should be noted that the brand went from just 3% market share in the premium segment as at October 2020 to ~14% in May 2021, representing a massive growth.
The growth of Mi India in the premium segment is a reflection of th econfidentce that the brand commands presently, which in turn is the product of the brand’s assiduous effort in churning out cost-effective and drable products.
Xiaomi India’s head, Manu Kumar Jain, commenting on the success of the Mi smartphones in the premium segment stated that; “With Mi, we have focused on bringing breakthrough technologies and setting newer benchmarks for mobile innovation. With the launch of the Mi 10 and Mi 11 series in the market, we have empowered our users with a premium experience, on the back of superior design, best in class features and functionality. It is because of the trust of our consumers and Mi Fans that we have been able to reduce the gap with one of the leading premium smartphone brands. While these are early growth numbers, we are overwhelmed to see consumers upgrading to premium devices under the Mi portfolio. As we continue to grow in the market, we will look at bringing more powerful devices, and work towards making Mi a premium aspirational brand in India.”
The company’s drive in the premium segment this year began with the Mi 10i which emerged as the brand’s best-selling 5G device under 25K. The Mi 11X series was also released, registering business worth INR 300 crore in just 45 days of launch. To further ramp its share in this segment, Xiaomi will be releasing the Mi 11 Ultra flagship in India today. The premium smartphone will be available exclusively on Mi.com and Mi Homes.
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