What made Mi lead the list of top smartphone manufacturers?
As 2020 ends, Mi leads the list of smartphone manufacturers in India. Let us look at the reasons why. In 2011, Xiaomi launched its first smartphone. Soon, it took over the Chinese smartphone market. But as the Indian smartphone market grew, Xiaomi decided to tap into the Indian market’s potential.
The Indian market was already heavily dominated by companies like Samsung and Micromax, and yet, Xiaomi managed to make a place for itself. Since then, it has only climbed up the ladder. According to Carolyn, Xiaomi held the top spot in India with 26.1% of the market share in Q3 2020, ahead of Samsung, Apple, Vivo, and Oppo. From being a newbie in the market to holding the top spot in 2020, let us see how Xiaomi has reached the zenith.
Xiaomi’s popularity
Let us take a look at why Xiaomi is so popular in India.
1. Understanding of the market
Xiaomi soon understood the demand of the growing Indian market; cheap phones with good features were the way to go. Throughout these years, they have adopted various mechanisms to cater to that demand. Their main focus has been to produce mobile phones under 10000 INR and 20,000 INR.
2. Affordable smartphones
Xiaomi’s primary claim to fame has been their cheap smartphones with better specs. Xiaomi has managed to manufacture phones and sell them at a very cheap rate.
3. No offline stores
Xiaomi sells its phones online exclusively. This saves a lot of the cost that would go into maintaining offline stores, warehouses, and surplus phones. Having offline stores would also need them to pay a certain amount of profit to the retailers of the stores. By cutting down on these costs, Mi managed to reduce the costs of their smartphones by 10 to 20%. This is primarily how they managed to put up the “affordable smartphones” image out in the market.
4. Flash sales!
Mi started selling its phones online through flash sales. They started building up for their products and the Mi lovers soon started to pre-book for flash sales. Through this, they made sure that people will be able to buy their favorite Mi phone only for a very short period of time before they go out of stock. This helped their demand go higher than any other smartphone brand.
5. Better specifications.
Although Mi phones are cheap, they are filled with impressive features and better specifications. Xiaomi made sure to not compromise on its hardware or software, and this consistency is what Mi lovers adore.
In 2020, Mi launched the Mi Note 9 Pro. It was compatible with 5G and offered either 6 GB or 8 GB RAM. Powered by the Qualcomm Snapdragon 750G octa-core processor, it is set to be one of the best Redmi phones ever produced.
6. MIUI
MIUI is an Android-based operating system for Mi smartphones and tablets. Xiaomi has created a monopoly with its MIUI by creating a high-quality user interface. This interface allows them to run ads, thus earning more revenue.
7. Zero profit margin
Xiaomi sells its phones at a zero profit margin, thus making them even cheaper. They do not earn from their phones directly. They earn through ad revenues on their interface, and from the apps and themes, they sell in the Mi store.
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