Shulou(Shulou.com)11/24 Report--

CTOnews.com July 26, Xiaomi India said that the company is investing 10000-15000 rupees (CTOnews.com Note: currently about 872-1308 yuan) in the equipment market, so as to regain the lost market share.

Muralikrishnan B, president of Xiaomi India, also said that the company had reformulated its strategy to focus on becoming "the most popular and trusted smartphone in India" and an Internet of things brand that "focuses on efficiency and sustainability and has a security foundation".

Tuyuan Pexels also said Xiaomi would operate with a leaner product portfolio and focus on promoting the popularity of 5G in India. Xiaomi India, which focuses on 5G smartphones and streamlines its product portfolio, will focus on one flagship model, not many products.

"Today, most of the 5G phones on sale are more than 20000 rupees, and the penetration of 5G has increased in the range of 15000-20000 rupees, but there is still a large part of the market in the 10000-15000 rupees range, where there is a very clear opportunity for Xiaomi to replicate the'4G miracle 'and recreate the magic of 5G," MuralikrishnanB told businessline.

Mobile phone sales in the 10000-20000 rupee range fell 34 per cent year-on-year in March 2023, while smartphones above 45000 rupees grew by as much as 66 per cent, according to Counterpoint Research.

He said the company has been selling smartphones between 15000 and 30000 rupees, so the next step is to add products in the range of 10000 to 15000 rupees. "the excellent performance of the Redmi Note 10T 5G, Redmi Note 11T 5G and Redmi 11 Prime 5G gives us confidence that this is the right market segment for 5G. We will adhere to Xiaomi's consistent characteristics of the best specifications, the highest quality and honest prices," he said.

But Xiaomi's shipments in India have fallen for four consecutive quarters, according to Counterpoint Research. Muralikrishnan said it would expand its offline retail coverage to boost business growth.

In addition to expanding its product coverage, Xiaomi will also focus on building strong channels with a view to achieving long-term growth, he said. Xiaomi will expand the coverage of offline retail stores and plans to increase the number of salespeople in retail stores from 4000 to more than 8000 by the end of the year.

It is worth mentioning that Muralikrishnan B also told the Times of India that although some Chinese counterparts, such as Mingjue Motors and BYD, are trying, the company will not consider a joint venture with any Indian company to take advantage of government-provided production-linked incentives (PLI). They will remain 100 per cent controlling subsidiaries of Chinese companies.

CTOnews.com note: BYD, together with Hyderabad-based Megha Engineering and Infrastructures, submitted a proposal to India's DPIIT to build a $1 billion four-wheel car manufacturing plant in Hyderabad, which has been rejected.

Related readings:

"India rejects BYD's proposal to build a $1 billion plant because of safety issues."

The president of Xiaomi India says it will pay more attention to offline channels to revive mobile phone sales.

"sources say Xiaomi plans to streamline its product portfolio in India to regain market share."

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