Xiaomi Corporation is a Chinese electronics company which is headquartered in Beijing. The company makes and invests in smartphones, mobile apps, laptops, and related consumer electronic gadgets. Now the Chinese phonemaker Xiaomi emerged as a top smartphone brand in India. Xiaomi produces so many products but smartphones are really gained so much popularity which run on their own version of Android as MIUI firmware. It is observed as Xiaomi’s rapid success rests on its ability to differentiate itself within the Android.
After the rapid market growth the company has increased its range of products; its smartphones include: Mi Series, Mi Note Series, Mi Max Series, Mi Mix Series and the Redmi Series. As well as mobile phones, Xiaomi has started selling wearables, mobile accessories, and appliances such as television and speakers. In 2018 it was selling tablets, laptops, and smart-home devices. Main advantage of Mi phones are they are very affordable and user friendly. Very handy and unique design made Mi very common among Indian youth. The company mainly sells its phones via flash sales in India. Xiaomi’s latest mobile launch is the Mi Play. The smartphone was launched in December 2018.
Mainly Samsung, Apple and others lead the Smartphone market in India. Now in terms of units shipped, with a 29.7 per cent market share at the end of the second quarter of 2018, according to IDC India. Now Korean major Samsung is placed at the second spot with 24 per cent market share. Compared to Samsung and other Smartphones Mi is very much pocket friendly. They can provide all the same comforts as any other brand can deliver. The lauch of Mi products created a new era of online Smartphone selling. They announced their commodities with launching offers and prebooking lists became full. Their selling strategy became a glory. Their advertisements catched very fast.
Mi shows rapid growth across all business segments. In the third quarter of 2018, Xiaomi’s smartphones segment recorded revenue of approximately RMB35.0 billion, representing an increase of 36.1% year-on-year, which was mainly driven by increases in both smartphone sales volume and the average selling prices. As of October 26, 2018, Xiaomi’s smartphone shipments exceeded 100 million units, successfully. Advertising revenue grew by 109.8% year-on-year to RMB3.2 billion, driven by the continuous optimization of our recommendation algorithm, users’ increasing engagement of internet services, and higher pre-installation revenue.
In addition, Xiaomi adopted a multi-brand strategy to better target different user segments. In response to users’ pursuit of ultimate smartphone performance, Xiaomi launched POCOPHONE, its new sub-brand. The brand’s very first smarphone was announced in India on August 22, 2018 and now the device is available in most of its international markets. Xiaomi also launched a gaming smartphone brand, Black Shark, through one of its investee companies. Black Shark brings together powerful hardware, polished software, and gamer-centric services to deliver the ultimate gaming experience to users.
The company is not offering too much shipment numbers for India, but researches said the company ships on average four million smartphones a quarter. The company’s record sales globally signified a ‘major inflexion point in its growth’ within two years of recalibration, and set a target of RMB 100 billion revenue for the present year.