Xiaomi is gearing up for the launch of a new Redmi smartphone in India. The company recently unveiled the Mi 11 Lite as its mid-range smartphone in the country. Earlier this year, Xiaomi launched its most expensive smartphone in India, the Mi 11 Ultra. The device is going on sale for the first time on July 7. As it gears up for the sale, Xiaomi, citing a Counterpoint Research report, has also announced some details around its performance in the premium smartphone segment. The company claims that it has managed to achieve a 14 per cent market share in the sub Rs 20,000 – Rs 45,000 category.
The performance graph shared by Xiaomi India CEO Manu Kumar Jain shows that the company had a 3 per cent market share in the premium category in October 2020. Jump to May 2021, Xiaomi has eaten nearly 14 per cent of the pie. Since January 2021, the company has launched several smartphones in the price range. These include the likes of Mi 10i, Mi 11X series, and the recently launched Mi 11 Lite.
#Mi brand records supersonic growth!
Fastest-growing Premium Smartphone Brand
14% market share in the 20-45K segment
Now as big as one of the biggest premium brands
Its a great start. But we need to keep working hard.
“Miles to go before we sleep”
— Manu Kumar Jain (@manukumarjain) July 6, 2021
The Mi 10i was also among the best selling 5G smartphones in the sub Rs 20,000-30,000 category. Xiaomi had announced that it sold over Rs 400 crore worth of Mi 10i units during the first three weeks of its sale. The Mi 11X series, which starts from Rs 29,999 and goes up to Rs 41,999, also registered Rs 300 crore worth of sale in just 45 days of its launch.
“With Mi, we have focused on bringing breakthrough technologies and setting newer benchmarks for mobile innovation. With the launch of Mi 10 and Mi 11 series in the market, we have empowered our users with premium experience, on the back of the superior design, best in class features and functionality. It is because of the trust of our consumers and Mi Fans that we have been able to reduce the gap with one of the leading premium smartphone brands. While these are early growth numbers, we are overwhelmed to see consumers upgrading to premium devices under the Mi portfolio. As we continue to grow in the market, we will look at bringing more powerful devices, and work towards making Mi a premium aspirational brand in India,” Xiaomi India CEO Manu Kumar Jain said.
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