Business

Indian Festive season Resulted in 40% Sales Growth of Xiaomi

Xiaomi Store

Chinese handset maker Xiaomi on Wednesday said it has seen a 30-40 percent increase during festive sales from its offline channel this year, across product categories. Moreover, the company is confident of the growth momentum continuing as Diwali approaches.

“We have expanded our offline retail presence significantly compared to where we were in the festive season last year. In the first phase of the festive season, we have seen strong growth in both offline and online channels. Our offline sales grew 30-40 percent over the last year (festive season),” Xiaomi India Head of Categories and Online Sales Raghu Reddy told PTI.

Xiaomi is the biggest smartphone brand in India. The Chinese smartphone maker is also the undisputed leader in the online retail segment. Known for its smartphone dominance, Xiaomi believes in honest pricing for all its products and is committed to forever limit its profit margin to not more than five percent on our hardware products, which include smart TVs, smartphones and ecosystem products and so on.

Earlier this month, Xiaomi said it recorded sales of over 5.3 million devices during the festive sale (first phase), including more than 3.8 million smartphones. The company, which entered India in 2014 and sold smartphones exclusively online, ventured into offline retail in 2017. It now operates its own chain of Mi Homes (nearly 80), apart from Mi Preferred Partners (over 5,000) and more than 2,000 Mi Stores (franchise model).

“Redmi Note series has been a true disruptor since the Redmi Note launch in 2014. Each Redmi Note has redefined high-value products by pushing the boundaries of technology and challenging the status quo,” Reddy said.

According to research firm IDC, Xiaomi led the smartphone market in India with a 28.3 percent share during April-June 2019, followed by players like Samsung, Vivo, Oppo, and Realme. The quarter had seen a shipment of 36.9 million smartphones. The company launched its latest Redmi Note 8 and Note 8 Pro smartphones, Mi Air Purifier 2C on Wednesday. It also unveiled its MIUI 11 (user interface).

Comment here