Xiaomi, the Chinese smartphone manufacturer, is embarking on a new three-year plan to solidify its position in India as the leading brand in smartphones and AIoT (Artificial Intelligence of Things). The company’s CEO, Muralikrishnan B, announced a strategy that includes improving product quality, creating an integrated smartphone and AIoT experience, and implementing omnichannel sales. Xiaomi aims to lead the growth in the Indian smartphone market by 2024, with 5G technology being the key driver of this growth. The company plans to focus on the premium segment and leverage investments in research and development in the field of generative artificial intelligence. Like other Chinese smartphone manufacturers, Xiaomi is seeking to regain market share in India, but faces challenges from the government and competitors such as Samsung, Vivo, Oppo, and Apple. To regain its position, Xiaomi is increasing its presence in brick-and-mortar stores and reducing reliance on online sales. Experts predict a revival of the Indian smartphone market in 2024, with an estimated growth rate of 5-8% and shipments reaching 148-157 million units. Xiaomi plans to offer 5G devices at various price points while simplifying its product portfolio. The company aims to replicate the success it achieved in 2023 when it focused on rebuilding and taking strategic actions in the 5G market.
Key Facts:
– Xiaomi plans to be the top brand in smartphones and AIoT in India within the next three years.
– The company will focus on improving product quality, creating an integrated smartphone and AIoT experience, and implementing omnichannel sales.
– Xiaomi intends to lead the growth in the Indian smartphone market in 2024, with emphasis on 5G technology.
– The company aims to focus on the premium segment and leverage its investments in generative artificial intelligence research and development.
– Xiaomi is striving to regain market share in India, competing with companies such as Samsung, Vivo, Oppo, and Apple.
FAQs:
What is part of Xiaomi’s strategy in India?
Xiaomi plans to improve the quality of its products, create an integrated smartphone and AIoT experience, and implement an omnichannel sales strategy.
What are Xiaomi’s goals in the Indian market in 2024?
Xiaomi aims to lead the growth in the Indian smartphone market in 2024, with emphasis on 5G technology. The company plans to focus on the premium segment and leverage investments in research and development in the field of generative artificial intelligence.
What challenges does Xiaomi face in India?
Xiaomi is working to regain market share in the Indian market, competing with companies such as Samsung, Vivo, Oppo, and Apple. The company also has to face challenges from the government, such as regulations and restrictions.
Source:
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