Xiaomi to Rule over Samsung in the Fastest Smartphone Market in the World
Xiaomi to Rule over Samsung in the Fastest Smartphone Market in the World
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New Delhi:- China's Xiaomi, which has long focused on e-commerce, is looking to resume smartphone sales after falling behind South Korea's Samsung, and will focus on growing retail sales in India, the India president said.

E-commerce sales in India through Amazon and Walmart Flipkart have surged in recent years, helping Xiaomi and others expand in one of the world's fastest-growing markets of 600 million smartphone users.

However, while 44% of smartphone sales in India are now online, the brick-and-mortar segment remains the larger market, and Xiaomi expects the market to grow further.

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“Our market position in the offline space is much lower than in the online space,” Muralikrishnan B., Xiaomi's head of India, said in an interview on Friday. “Offline, we have competitors who are doing pretty well and have a larger market share.”  

According to data from Hong Kong-based Counterpoint Research, only 34% of Xiaomi's sales in India this year came through retail outlets, with the rest coming through its website, which has long been its biggest revenue driver. rice field. Samsung, on the other hand, makes 57% of its sales in stores.

Muralikrishnan said Xiaomi plans to expand its store network beyond its current 18,000 stores and work with Vendors to offer other less competitive products, such as Xiaomi TVs and security cameras. It is said that

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He said the company will address marketing issues after noticing that some partner stores with bright orange branding on the outside of stores make competing brands more prominent in stores.

Xiaomi's offline push comes months after the company lost the lead to Samsung, which has a larger portfolio of trending premium phones. The South Korean giant has a 20% market share in India, compared to 16% for Xiaomi, which has historically focused on budget phones.

"Offline remains an important platform as India embraces the trend of premiumization," said Tarun Pathak, an analyst at Counterpoint. “Consumers who spend more money want the look and feel of luxury products.”

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Xiaomi plans to hire more store promoters (sellers who lure and promote potential buyers and sell mobile phones in stores). Muralikrishnan said the number will triple from early 2023, with the number of organizers expected to reach 12,000 by the end of next year. Another big challenge for Xiaomi in India is that federal agencies have frozen $673 million (roughly Rs 5.5 billion) in bank balances since last year.

The agency has accused Xiaomi of illegally sending money to foreign companies under the guise of royalties. The company denies wrongdoing. "We remain confident that our position will eventually be heard and examined," Muralikrishnan said.  

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India is the World’s fastest-growing smartphone market so Xiaomi after expanding itself in the market has earned a lot of profits and now it is also increasing its sales in India.

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