has launched a sub-brand – Poco – to strengthen its presence in the premium end of the smartphone market. While the firm had been present in the premium segment, it is the high double-digit growth in the segment during the past few years that has attracted the Chinese handset brand’s attention towards it, said experts.
A new smartphone Poco F1, attractively priced at Rs 20,999, will give its journey a new start in the segment that so far has remained beyond Xiaomi’s reach. While the firm captured the top slot from Samsung in the smartphone market with its mass market products in the mid-segment late last year, it failed to get into the league of the top three brands in the semi-premium segment – starting from Rs 20,000. To draw the wind in its favour, Xiaomi
even slashed the price of the Mi Mix 2 in May to Rs 29,999, from Rs 35,999.
“As a small outfit within Xiaomi, Poco has the freedom to start from scratch, zeroing in on the product choices and technologies that matter. This is why we have created a smartphone that delivers unbelievable performance, focusing on the core innovations that truly matter, which, we believe, will resonate with tech enthusiasts,” said Jai Mani, head of product, Poco Global.
According to the IDC, during the June 2018 quarter, Xiaomi
captured 29.7 per cent market share – ahead of Samsung (23.4 per cent) and Vivo (12.6 per cent).