Xiaomi records 20% boost in smartphone sales, unveils Mi Smart Upgrade programme

Xiaomi has recorded a 15 to 20 per cent boost in smartphone sales in the first phase of the festive sale, compared to the same period last year. The Chinese smartphone company has also unveiled Mi Smart Upgrade programme that will offer Xiaomi phone users up to 70 per cent of the value on their old device. This is applicable when the user upgrades to a newer Redmi or Mi smartphone.

Muralikrishnan B, CEO Xiaomi, said the company has witnessed strong uptake of products across various e-commerce platforms and its own portal in the first phase of the festival sale that commenced mid-October. He said their entire portfolio was refreshed two to three months ahead. “We were lot more ready for festive season this year, which creates a lot of customer excitment. It also gave us the ability to have bulked up the supply significantly, and supply sufficient quantities into the market.

The executive revealed that the company sold five million smartphones in the first wave of sale. Muralikrishnan said this is a growth of about 15 to 20 per cent over similar time period last year across all platforms. This is expected to accelerate further as Diwali celebrations kick off. “We have seen a lot of first time smartphone buyers, there has also been a lot of prosperity to upgrade to mid-premium and premium range. The total quantum of contribution of orders beyond metros and tier 1 on Mi.com also increased significantly,” he said.

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In regards to Mi Smart Upgrade programme, Muralikrishnan said technology in the smartphone space has been changing at a rapid pace, whether it is related to camera, battery or display and that refresh cycles of phones have shrunk from six to nine months from 10 to 12 months previously. Moreover, the value of the phone, he pointed out, depreciates right after the purchase of the device, and Xiaomi India identified the challenge around the low resale value on smartphones and tailors its Mi Smart Upgrade offering around it. “When customers go for upgrades, they hardly get any value on the old devices. With Mi Smart Upgrade, customers will get an assured buyback from Mi India,” he said. “We are confident that this plan will make upgrade options affordable, easy and convenient for our users.”

With inputs from PTI