NEW DELHI: Chinese handset maker Xiaomi said, “we would now expanding our focus to the fast-growing premium smartphone segment, a move aimed at increasing the market size and to better compete with the likes of Vivo, Samsung”. The company also said it is not worried about losing the numerous position to Korean phone maker Samsung in the second quarter.
“I think, now the time has come when we should launch above Rs 20,000 devices because people are now looking for an upgrade. We want to give them the right kind of choices.
The average selling price [for smartphone] of the market is going up, so we want to move along. We are launching Mi A2 smartphone,” said Manu Jain, Xiaomi’s managing director, and international vice president.
Jain said that Xiaomi will launch more smartphones in the premium category in coming time. “We will launch new devices, which will be a huge surprise,” he said. “When we started more than 90% of the market was below Rs 15,000 and less than 7-8% was above Rs 15000…Today that ASP has moved to Rs 9000, and our ASPs have gone up in the last few quarters,” Jain explained.
Lately, Oppo, Vivo, and Huawei have entered into the premium category with the launch of new smartphones to increase their respective market share.
India’s premium smartphone segment (above Rs 30,000) grew 19% annually and 10% sequentially during the April-June quarter of Q2 2018 as more consumers upgrade to 2018 flagship launches by different Android OEMs in India. The growth was driven by increasing offers around the new launches as compared to a year ago, as per Counterpoint Research.
Image Credit- Android Central