05 November 2019
Xiaomi is a well-known brand in India and when it comes to smartphones, it is the biggest market shareholder. More often than not, its smartphones sell like hotcakes even if they are being sold through flash sales. The story is almost the same for smart TVs which it releases under the Mi TV lineup. But despite all the success, Xiaomi has an image of a budget brand which makes it harder for it to compete in the premium segment. This is exactly what Xiaomi wants to change sooner than later.
As per a new Reuters report, Xiaomi will now focus on widening its catalog by releasing more high-end products in India. These new products will include smartphones and smart TVs but will come with premium features and pricing. It is worth noting that Xiaomi sees the price range of Rs. 30,000 as the premium segment.
In a statement, Muralikrishnan B, Chief Operating Officer at Xiaomi India said:
"We are inching up in the entire ASP (average selling price) curve. There is acceptance coming in at the higher end of the price band and in our definition higher end is now 30,000 (rupees). There are various ways in which you make inroads into the consumers psyche, into their home and help one category grow from the other."
Xiaomi is currently the dominant player in the smartphone market, especially in the budget and mid-range price segment up to Rs. 20,000. Its most recent releases Redmi Note 8 and Redmi Note 8 Pro have already received positive feedback from tech critics for mind-blowing pricing. But when it comes to smartphones priced well above Rs. 20,000 mark and closer to Rs.30,000-Rs. 40,000 price bracket, Indian buyers prefer to go for the likes of OnePlus, Samsung, Oppo, and Vivo. It will undoubtedly a difficult road ahead for Xiaomi but one should not underestimate it for sure.