Samsung has taken over Xiaomi as the leader in the Indian smartphone market, thanks to the latter’s slow shift towards premium devices. Samsung and Xiaomi are two of the biggest smartphone manufacturers in the world, and both count India as a key growth market.
However, recent trends suggest that more Indians are now opting for expensive phones with better features, and the affordable smartphone segment under $120 is losing popularity. This shift in consumer preference has allowed Samsung to edge out Xiaomi in the Indian smartphone market.
Samsung vs Xiaomi details
According to data, Samsung recorded $10.3 billion in sales in India in 2021-22, of which $6.7 billion came from smartphones. In contrast, Xiaomi recorded total revenue of $4.8 billion in the same period. This marks a significant change in the market dynamics, as Xiaomi had been leading the Indian smartphone market for several years prior.
One of the reasons for Samsung’s success in India is its loan scheme, which is driving the purchase of premium phones. An executive from Samsung has revealed that the scheme has been popular among customers, who are willing to spend more on high-end devices. This has helped the company to increase its market share in the premium smartphone segment.
On the other hand, Xiaomi’s slow shift towards premium devices has been seen as a major contributing factor to its loss of market share in India. While the company still offers affordable smartphones, it has been slow to bring premium devices to the Indian market.
In addition to this, Xiaomi has also been facing other challenges in India. The company has seen the departure of at least five senior executives and increased government scrutiny amid frosty relations with neighbouring China. The company also has $674 million of its funds frozen by the country’s financial crime agency for alleged illegal remittances to foreign entities, which Xiaomi has denied.
Samsung has emerged as the new leader in the Indian smartphone market, largely due to its focus on premium devices and innovative loan schemes. Xiaomi’s slow shift towards premium devices has led to its decline in market share in India. However, with the Indian smartphone market continuing to evolve rapidly, there is still plenty of room for both companies to grow and innovate. It will be interesting to see how they adapt to changing consumer preferences and market dynamics in the coming years.
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