Xiaomi is fighting very hard to keep up with its competitors in the premium phone segment market; however, so far, the Chinese mobile manufacturer has failed to impact the premium mobile market in the presence of heavyweights like Samsung and Apple.
The mobile manufacturing company has shifted their focus towards the premium segment after their low and mid-segment mobiles are being hit in the market. Now, these users are looking to upgrade their mobiles.
On this, the MD of Xiaomi India Manu Jain stated
“But we believe our journey in this particular segment has just started. It has been a really short time of six months. We have hit a good 14-15% market share in Rs 20,000-Rs 45,000 segment in such a short period of time, which is a 7x jump since last year, but still, we have a long way to go.”
Xiaomi has managed to grasp the third position in the mid-premium segment market as of May 2021, having 14-15% of this part of the market under their reign. And to further increase its position, Mi will be launching 5 more smartphones into the market and boost its position in the market, and it aims to be the top company in the coming years.
To this, the MD of Xiaomi India further stated, “Of course, if you become number one in this segment, why not I would be very happy. I am extremely happy with where we are right now which is the third-largest because we have never done this before. So, if it happens that would be great, but if it doesn’t happen again as I said we have been very very patient.”
“Our offline presence till about two years ago was very very small. So we knew if you have to do justice to this premium segment, the market has to be big enough.”
“Now, 40-45% phones in the Rs 20,000 plus category are sold online. We now have a strong presence across channels. So, now we can have a meaningful play in this meaningful market,”
Manu Jain has made his intentions clear, which is to now grab the top spot in the premium smartphone market just like they have done so far with Low to mid-segment mobile phones. And their company is willing to work and launch smartphones further on to increase its portfolio and make it happen.
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