Xiaomi is the Chinese smartphone company that ventures into the Indian market in 2014, and since then, it has not seen back. Its impact could be seen in the Indian smartphone market as it is now the numero uno player. It leads with a significant market share of 28.9%, followed by Samsung at 22.4%, and Vivo at 10%.
But, have you wondered about the factors that have led to such exponential success of Xiaomi in India? If no, then here is an article that will quickly showcase the most vital elements that made Xiaomi the heartthrob of the Indian market. Continue reading!
Lower pricing
The first factors that made its presence felt in India and helped to consolidate its position in the Indian market are its offering of more features at jaw-dropping prices. It sells sell its models at almost the similar cost of its bill-of-material.
Make in India initiative
Xiaomi could not keep the prices of its earlier products lower in India as it used to import phones from China. Not anymore, it opened manufacturing factories in India under the Government’s Make in India initiative.
It helped it reduce the prices, and it passed on the benefits to its customers in the form of even lower pricings. Its opening of 750+ service centers was another masterstroke that helped it bond with its base by resolving their queries quickly.
Selling strategy
Selling its smartphones at lower prices means that they have a little profit margin. It is where its strategy comes into the picture. Instead of showcasing its mobile phones for a short-term like 6 months like Samsung, it sells for a longer duration of 18 months or more.
It was done to gain from the drop in prices of components happening over time. Thus, while the new models keep launching that did not keep older phones off the shelves online. It helped them recover the costs gradually.
Online selling
MI phones under 15000 or other price points are sold online via an eCommerce store and not via offline stores. It means that they were able to do a lot of cost-cutting as there was no need to maintain their own stores. What’s more, it employs its customers as its marketing tool and social media than other expensive models.
Aggressive launching
At a time when MI phones under 15000 or any other phones could launch, the company did not wait for its next model. It always kept its customers guessing for its future models, and that’s what always kept it in the news and trend.
As people know that Xiaomi phones are valued for money with more features for lower prices, they waited for it to invest in a phone. The back to back launching of smartphones kept its competitors away from the news, and it’s when Xiaomi cast its spell on people.
Amazing line of flagship models in the budget category
Another thing that ruled in favor of Xiaomi to become the top smartphone selling company was its launching of flagship phones in budget sections. Not just one or two, there were many MI mobiles under Rs.10,000 to Rs.15,000 bracket.
You can consider the Redmi Note 7s, Redmi Note 7 Pro, and Redmi 7, Redmi Note 6 Pro and more as well as others in earlier series. The availability of quality smartphones under a price point meant that there was a model for every customer to buy. Hence, it left very little for other brands to do amid many models in the budget price.
Flash sales
Xiaomi also sold its products in small chunks of shipments. This way, it was able to create hype around its phones that supply is less than demand. People would go crazy about having such product in such cases.
Products went out of stocks within seconds, and it gave Xiaomi free publicity that something is special about it. The products went for open sales only after months once the product is accepted and have sold enough models.
Xiaomi is expected to set newer sales and marketing benchmarks with its launching of future phones. You can buy a Xiaomi phone after dividing its cost over a suitable tenor and paying only fixed EMIs and nothing more on the Bajaj Finserv EMI Network.
