Xiaomi will strengthen its product portfolio and launch 5G devices in the sub-Rs 15,000 segment as it looks to increase its market share in the segment.
Xiaomi led the shipments in overall smartphone category in 2021 with a 24 per cent share, according to Counterpoint Research. However, in the 5G segment it is ranked fourth behind One Plus, Samsung, and Vivo, with a 13 per cent share. As of June end, over 50 million 5G-enabled smartphones have been shipped in India.
Despite its lower share, the Chinese mobile device maker, however, remains bullish on the market.
“Over the years, we have launched a range of 5G smartphones across price points with premium smartphones like Xiaomi 12 Pro and Redmi Note 11 Pro+ 5G and Redmi Note 10T, among others, that offer best [specifications] at honest pricing. We will continue to be bullish in the segment. We will offer 5G devices across all feasible price points that will include the sub [Rs 15,000] price segment,” a company spokesperson said.
The company said it has launched over 20 5G-enabled models so far and will continue to offer products that suit consumer requirements and enhance their overall experience. While the average selling price (ASP) for 5G-enabled devices used to be above Rs 20,000 in 2020, the ASP has come down significantly below that mark in 2022, it said.
“We have been working closely with various telecom operators for over two years now and have tested most of our models in not just lab conditions but outside as well. Our devices will be ready for both standalone and non-standalone networks, depending on what the operators will roll out across circles,” the Xiaomi spokesperson said.
Industry analysts, too, are projecting growth.
Cyber Media Research said that one in every three smartphones shipped in the June quarter was a 5G-capable device. 5G smartphone shipments grew 7 per cent sequentially and 163 per cent year-on-year (YoY), it said in its report on Thursday.
“With the completion of 5G auctions and anticipated rollout of 5G services in India shortly there will be further momentum in 5G smartphone shipments. As [the second half of] 2022 begins smartphone brands will focus more on offering lucrative schemes, offers and discounts to clear out their piling inventory,” said Menka Kumari, analyst, industry intelligence group, Cyber Media Research.
The domestic smartphone market grew 9 per cent YoY but fell 5 per cent sequentially in the June quarter, according to Counterpoint Research. Demand, however, is picking up. The planned rollout of 5G services and the upcoming festive season will drive growth in the next two quarters, it said.