Xiaomi has launched a new buyback scheme on smartphones called Mi Smart Upgrade for its customers in India. Under the new Mi Smart Upgrade plan, users can upgrade to the latest offering under the Redmi or Mi range of smartphones at an affordable price point. Xiaomi claims that users can get up to 70 per cent assured value by selling their old Redmi or Mi devices via the Mi Smart Upgrade plan. The offer can be availed on any Redmi and Mi smartphone between three and 15 months from the time of its purchase. Let’s take a look at what the Mi Smart Upgrade has in store for its users.
Xiaomi Introduces MI Smart Upgrade With up to 70% Buyback Rate
On an average, in India, users tend to change their devices every year and the value of the phone depreciates right after the purchase of the device. Mi India says that it identified the challenge around the low resale value on smartphones and tailored the Mi Smart Upgrade offering based on this.
How to apply for Mi Smart Upgrade
The Mi Smart Upgrade plan will be available at Mi authorised retail outlets and can be activated through an easy enrolment process with minimal documentation. Consumers can buy the Mi Smart upgrade add on along with their smartphone purchase at all Mi authorised retail outlets.
The Smart Upgrade plan will start immediately with physical Mi Stores, Mi Preferred Partners, etc. It will start on Mi.com soon.
What is Mi Smart Upgrade
The MI Smart Upgrade offer is only applicable to Xiaomi’s Redmi and Mi branded smartphones. With the Mi Smart Upgrade, users can encash their device any time after 3 months till 15 months of purchase, with exchange value ranging from 40 per cent to 70 per cent of the Suggested Retail Price (SRP) of the phone. The Suggested Retail Price or SRP is the price at which the customer purchases the phone.
With the Mi Smart Upgrade plan, users can get up to 70 per cent of assured value within 4-6 months, 60 per cent for 7-9 months, 50 per cent on 10-12 months, and 40 per cent on 13-15 months, from the date of purchase and final billing. Users can get an assured buyback value of 40 per cent of the SRP even after the warranty expires till 15 months from the date of purchase of the old smartphone.
Commenting on the announcement, Muralikrishnan B, Chief Operating Officer at Mi India said, “As a brand, we have always focused on creating unique propositions for our consumers and have created yet another one to continue the momentum of this festive offering. We are thrilled to announce our latest offering – Mi Smart Upgrade which is an assured buyback offer from Mi India. We are confident that this plan will create more opportunities for technology lovers to experience innovation through our latest smartphones and also address the need of the hour by making upgrade options affordable, easy, and convenient for our users.”
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