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Xiaomi redefined Indian market, not worried about copycat players
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SME Times News Bureau | 17 Jul, 2019
Xiaomi has completely redefined the Indian market, first by creating
value-for-money yet powerful smartphones and then branching out with
successful sub-brands like Redmi -- a formula that new entrants are now
adopting and building their presence on, Manu Jain, Managing Director,
Xiaomi India, and Vice President, Xiaomi said here on Wednesday.
Without
naming Realme that has been growing fast in India, Jain told IANS that
other companies have started launching different brands, sub-brands and
"series" smartphones for the Indian market which was initiated by them.
"Imitation
is a sincerest form of flattery. We have changed the game and redefined
how smartphone markets should behave and are not worried at all about
the competition," Jain told IANS on the sidelines of the Redmi K20, K20
Pro smartphones launch in the country.
Manu Jain's first Twitter
outburst in 2019 was against Chinese smartphone brand Realme where he
hit out at Realme 3 Pro that features Qualcomm Snapdragon 710, saying
this is older than Snapdragon 675 used in Xiaomi's latest device Redmi
Note 7 Pro.
Madhav Sheth, the CEO of Realme India which became
the fastest vendor to sell six million units after its debut in May
2018, reacted, saying Xiaomi is "insecure" of its success in the
country. "Someone is afraid," Seth had tweeted.
"People used to
mock us five years back. They used to say our strategy would not work in
India, including the ones who have now copied our path and our
strategies.
"We have recently launched Mi Express Kiosks that
allow consumers and Mi Fans to purchase Xiaomi smartphones and mobile
accessories directly. By the time someone would copy this, we will be at
another level. We would always stay ahead in terms of innovation,"
stressed Jain.
Xiaomi and Samsung are the arch rivals in the
India smartphone market but it doesn't mean they do not have anything to
learn from each other.
Jain said the company is learning from
other brands, including the offline giant Samsung, in its push for
retail sales in the country.
"Competition is always there. There
are certain brands we respect and learn a lot from them. When we started
our offline journey, we followed Samsung's approach and learnt how to
expand our business offline in the country," Jain told IANS.
According
to market research firm Counterpoint Research, aggressive offline
expansion helped Xiaomi retain its top position in the India smartphone
market in the first quarter of 2019 with a 29 per cent share, though its
shipments declined by two per cent year-over-year.
Realme continued to figure among top five brands for the second successive quarter.
Five years back, Jain said, the company's motive was to survive and build something meaningful for the Indian consumers.
"Now
we are number one smartphone maker in India wirh 50 per cent market
online share. In the next five years, we would focus upon other consumer
electronics segments and look forward to become number one there too,"
said the Xiaomi India head.
Xiaomi has now set a target of
opening 10,000 retail stores in the country and aims to have 50 per cent
of its smartphone sales in India from offline channels by the end of
this year.
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