New Delhi:- Xiaomi, the smartphone manufacturer, is placing a significant wager on the Indian market with the amount of Rs. 10K On Friday, a top executive from the company stated that the 15,000 device division is making efforts to recapture the market share it previously lost.

Muralikrishnan B, President of Xiaomi India, stated that the company has devised a new strategy to re-establish itself as India's preferred and reliable brand for smartphones and IoT devices. The prime emphasis will be on promoting efficiency, sustainability, and ensuring a secure foundation. Xiaomi, according to him, will streamline its product range and prioritize making 5G accessible to all segments of the Indian population.

“Most of the 5G devices currently on sale are priced at Rs 20,000 and above. Market penetration will increase to Rs 15,000-20,000, while a large portion of the market, the abdomen of the market, will be around Rs 10,000-15,000, where there is a clear opportunity to repeat what Xiaomi has done with 4G and revive the magic of 5G,” Muralikrishnan said.

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According to Counterpoint Research, the sum is Rs 10,000 for him. The March 2023 quarter for the 20,000 price range saw the biggest drop of 34% year-on-year, while smartphones priced above INR 45,000 saw a 66% rise. 

Muralikrishnan said the company sells smartphones in the rupee price range. He was 15,000 rupees 30,000 rupees, and the response to the company's device was 10,000 rupees to 10,000 rupees. The 15,000 bracket lets you focus on your segment with confidence. “Redmi Note 10T 5G, Redmi Note 11T 5G and Redmi 11 Prime 5G have shown great performance and we are confident that this is the right segment for 5G. We will remain true to Xiaomi's goodness of products with the highest specifications, highest quality and honest prices,” he said.

Xiaomi's shipments have fallen for the past four quarters in a row, according to market analysts.

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According to Counterpoint Research, Xiaomi's shipments for the March quarter of 2022 fell 44% year-on-year, and the company slipped to his third place with a 16% market share. Muralikrishnan said the company will expand its offline retail reach to expand its business in the future.

He said that in addition to expanding distribution reach, the company will focus on building strong retail capabilities that will help sustain long-term growth.

Muralikrishnan said the company plans to double the number of retail merchandisers from the current 4,000 to more than 8,000 by the end of this year. 

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The Xioami company will now focus on gaining the lost market by betting a little bit big according to the segment of the smartphone price ranges which is said by the President Mr. Muralikrishnan B.