Poco continues to thrive in the Indian smartphone market, showcasing an impressive success story. According to market research firm Canalys, Poco has emerged as the fastest-growing smartphone brand in India’s online channel, even amid a decline in overall smartphone sales across the country.
During the first quarter of the year, Poco achieved a remarkable 68% year-on-year (YoY) growth in sales, while the overall Indian smartphone market experienced a decline of 10-15% during the same period. Even online sales of mobile phones witnessed a 20% decrease.
Everything about the Indian Smartphone Leader, Poco
The continued growth of Poco can be attributed to several factors. Himanshu Tandon, Poco India’s Country Head, revealed that they have garnered 60% repeat customers, which is an impressive statistic. The company’s loyalty and upgrade programs have played a crucial role in sustaining and increasing sales.
Furthermore, the introduction of three new Poco C-series smartphones priced below INR 10,000, along with the Poco X5 Pro in the INR 20,000-25,000 price segment, acted as catalysts for increased sales. The budget-friendly phones, including the Poco C51, Poco C55, and Poco C50, specifically target entry-level buyers.
Poco India now anticipates a YoY growth of 75% to 80% in 2023, an ambitious target. Tandon stated that the preliminary numbers for the second quarter are even higher than those of the first quarter. Additionally, the company is shifting its focus to offline channels by establishing four distributors in key cities such as Delhi, Mumbai, Bangalore, and Ahmedabad.
Recently, Poco launched the Poco F5 series, comprising the Poco F5 and Poco F5 Pro. The vanilla Poco F5, the first Snapdragon 7+ Gen 2-powered smartphone in India, was made available. It boasts a 120Hz refresh rate, a 64MP camera setup with optical image stabilization (OIS), and 67W fast charging. The device received accolades for its flagship performance, 12-bit display, practical camera configuration, excellent speakers, and efficient thermals.
Furthermore, Poco introduced the budget-friendly smartphone Poco C51 in India. This phone offers a 6.52-inch HD+ display, MediaTek Helio G36 processor, a substantial 5000mAh battery, and Android 13 Go Edition software, all priced below INR 10,000.
