The festive season is generally a good time for manufacturers as consumer spending is often concentrated during the holiday season. The same applies for the Indian leg of Xiaomi, which had a spectacular holiday month, selling more than 3 devices per second and raking in a lot of moolah.
It Was A Good Diwali For Xiaomi
By selling 4 million handsets in the third quarter of 2017, Xiaomi became the number one smartphone manufacturer in India. Continuing the success streak, Xiaomi managed to sell more than 8.5 million devices in India from October 9 to November 8 this year. Out of these, 6 million were smartphones, 400 000 were Mi TVs, and 2.1 million were ecosystem products and accessories. This translates to a revenue of $1 billion or more than INR 72,000 thousand crore.
1 Team, 1 Month, 1 Billion! 🤘@XiaomiIndia sold 8.5M+ devices worth US$ 1B+ in just one month (9th Oct to 8th Nov)! 💪
* 6M+ smartphones
* 400K+ Mi TVs
* 2.1M+ ecosystem products & accessories.
— Manu Kumar Jain (@manukumarjain) November 12, 2018
Xiaomi remained the brand of choice for smartphones, power bands, and TVs during the October 9 – November 8 period on Flipkart and Amazon, per the company’s Head of Categories and Online Sales, Raghu Reddy. Sales via the brick and mortar stores also remained strong during this period. While the company hasn’t revealed the contribution of offline stores towards the overall sales figure, it does have plans to increase its offline presence through LFR stores.
Guarding The Top Spot
In the second quarter of 2018, Samsung managed to nudge Xiaomi aside to become the number one smartphone seller in India. However, as Counterpoint Research has revealed, Xiaomi managed to regain the spot in the third quarter of the year. In fact, the last quarter was particularly good for the company, as it managed to ship a record number of phones in the country. The success can be attributed to the newly inaugurated offshoot brand Poco, the Redmi 6 series, and an increase in the number of offline channels. Statistically, the market share went up from 22 percent in Q3 2017 to 27 percent in Q3 2018.
The Redmi Note 5 Pro and Redmi 6A were the top-selling smartphones on Flipkart and Amazon respectively during the holiday period. As per Xiaomi, it also outshone its competitors in the TV category, wearable category, and the power banks category as well. The demand for the company’s Mi Air Purifier 2S also increased manifold compared to last year across various platforms.
All Good Things Come To An End
Xiaomi smartphones are a top pick in India because they offer flagship-level features at an affordable price. The company had launched some variants at introductory prices in September, increasing the price to quality ratio even further. However, now that Diwali is over, the prices will go up. However, this only applies to prices of the smartphones that were released at introductory prices.
The price of some other Xiaomi products have also increased, but for an entirely different reason. The weakening Indian rupee has prompted the company to make necessary adjustments, which has resulted in an increase in the prices of the Redmi 6, Redmi 6A, a 10000 mAh power bank, and two of the Mi LED TVs. Needless to say, this price hike can negatively impact the demand for Xiaomi products.
In case you are still looking for a smartphone, check out the Redmi Note 5 below and let us know what you think.