Xiaomi New Smart Phone 2024 Targeting the Rs. 50,000 Price Segment [Exclusive]
With New Smart Phone 2024 Xiaomi aims to fill the gap between its Redmi Note 13 Pro+ 5G (priced at Rs. 34,999) and the flagship Xiaomi 14 (priced at Rs. 69,999) with New Smart Phone 2024
New Smart Phone 2024
After launching the New Smart Phone 2024 14 series earlier this year, Xiaomi is now poised to enter a price segment it had previously overlooked. Anuj Sharma, CMO of Xiaomi India, confirmed that the company is gearing up to release a New Smart Phone 2024 priced around Rs. 50,000.
This upcoming Xiaomi New Smart Phone 2024 will bridge the gap between the Redmi Note 13 Pro+ 5G, which starts at Rs. 30,999 (8+256GB) and goes up to Rs. 34,999 (12+512GB), and the flagship Xiaomi 14 priced at Rs. 69,999.
Xiaomi’s strategic decision targets consumers in search of a premium device within this price range, effectively bridging the gap between their current product lineup and the more expensive flagship models.
The upcoming smartphone is anticipated to deliver an enticing blend of features and performance, positioning it as an appealing option for discerning buyers. Xiaomi’s thoughtful approach aims to capture the attention of tech-savvy users who value both quality and affordability.
When you’re in the middle of a price range, Rs. 50,000 becomes a crucial price point in the premium segment, akin to Rs. 9,999 in the economy segment. Back in 2014-2015, a product priced at Rs. 9,999 and another at Rs. 10,999 were perceived quite differently in India. Similarly, crossing the Rs. 50,000 mark or staying below 50K significantly impacts consumer perceptions.
Over time, the Rs. 50,000 smartphone category has been overlooked, which Sharma emphasized while discussing why this segment has recently been a missed opportunity for most smartphone manufacturers.
In the current scenario, the Rs. 50,000 price range is occupied by only a few players. iQOO caters to performance-oriented users, while OnePlus has made significant strides in this segment, largely due to the success of their 11R and 12R models.
However, despite minor spec upgrades, these OnePlus devices haven’t truly revolutionized the offerings at this price point. On the other hand, Apple and Samsung take divergent approaches. Apple’s iPhone SE targets those seeking a compact smartphone, while the iPhone 13 is available at discounted prices on major e-commerce platforms.
Meanwhile, Samsung recently introduced the Galaxy A55 priced at Rs. 45,000, which has made the base S24 even costlier this year. The gap in the smartphone market is evident, and Xiaomi aims to capitalize on this opportunity.”
Xiaomi’s New Smart Phone 2024
Xiaomi has emerged as a pivotal player in the smartphone market this year, witnessing substantial growth. According to analysts, the releases of the Redmi Note and Xiaomi 14 series have garnered positive reception.
In fact, IDC’s most recent report highlights Xiaomi’s leadership in the sub-$100 smartphone segment. This encouraging momentum builds upon the company’s resilience in 2023, which followed a challenging 2022.
Anuj Sharma, CMO of Xiaomi India, emphasized how the company actively integrated feedback from its community and drew valuable lessons from the Xiaomi 13 Pro launch in the previous year.
A significant takeaway for Xiaomi was the importance of streamlining its product portfolio to enhance consumer decision-making.
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In response to inquiries about a dedicated strategy for the upcoming smartphone priced around Rs. 50,000, including potential upgrade offers for existing Xiaomi users, Anuj Sharma shared insights. He highlighted the company’s successful track record over the past five years in the Rs. 20,000 to 40,000 range.
Notably, the Redmi K series, priced between Rs. 22,000 and 27,000, along with models like the Xiaomi 10i, 11i, and 11i Hypercharge, achieved significant sales volumes. All these devices followed a three-year upgrade cycle.
Sharma emphasized that if Xiaomi can strike the right balance in terms of pricing and product features, it could pave the way for a compelling upgrade pathway.”
When queried about consumer feedback for the Xiaomi 14 and Xiaomi 14 Ultra, Sharma indicated that it was predominantly positive.
The New Smart Phone 2024 Xiaomi 14 Ultra can be seen as an extension of the Xiaomi 13 Pro. It laid the groundwork effectively. Initially, many people were skeptical about investing in a product priced at 80K. However, a year later, creating a trade-in program for that phone has proven challenging.
Users are reluctant to part with their Xiaomi 13 Pro. Interestingly, we’ve encountered individuals who purchased the 14 Ultra while retaining their 13 Pro. They want to use both devices, and this unique differentiation is something we intentionally fostered.”
Is the offline market crucial for premium smartphones ?
Given Xiaomi’s extensive retail footprint, they are well-positioned to leverage it for promoting their growing range of premium smartphones.
Regarding our offline strategy, Anuj Sharma explained, ‘Our entire retail approach revolves around providing an exceptional experience. We intensified our focus in this direction after the pandemic, recognizing that as consumers move up the price ladder, their first interaction with a brand or series should ideally happen offline.
People often visit physical stores a couple of times to try out the product before making a decision. Subsequent online purchases on platforms like Mi.com, Flipkart, or Amazon may follow, but the initial experience is rooted in our retail counters.
Early last year, we initiated discussions about enhancing our retail capabilities. We’ve been actively working on this front. Whether it’s Mi Home, Mi Stores, or our collaborations with organized trade partners, we’re also reaching out to multi-brand outlets and smaller stores.
Our goal is to ensure that there’s a meaningful product demo and a deeper understanding for shopkeepers regarding what we offer. This way, they can guide customers effectively and discuss the right products.
The true magic of the Xiaomi 14 and Ultra lies in that initial moment when you hold them. No spec sheet can fully convey the experience, especially once you start exploring the camera features.
