Xiaomi, a leading smartphone manufacturer, is focusing on enhancing the consumer experience through artificial intelligence (AI) as part of its premiumization strategy. The company is investing in innovation capabilities to elevate its offerings, particularly in the premium segment and smartphone AIoT (Artificial Intelligence of Things).
Muralikrishnan B, President of Xiaomi India, highlighted the company’s commitment to innovation and its shift towards premiumization in the Indian market. With the increasing disposable income and GDP growth in India, Xiaomi sees an exciting opportunity to cater to the aspirational needs of consumers.
Xiaomi is banking on AI-centric features, especially in its premium smartphone range like the recently launched Xiaomi 14 Ultra. Priced at Rs 99,999 and equipped with Qualcomm Snapdragon 8 Gen-8 chipset and Leica cameras, the device aims to deliver a top-notch user experience.
Muralikrishnan emphasized the importance of customer trust and experience, stating that the company’s focus is on winning the trust of customers and growing faster than the market. Xiaomi’s strategic pillars for the coming years include premiumization, smartphone-oriented AIoT, and a synergized omni-channel retail approach.
While AI powers various aspects such as processor optimization and battery management, newer applications like generative AI are gaining popularity among users. Xiaomi plans to continue offering 4G-centric devices below Rs 10,000, focus on 5G smartphones in the Rs 10,000 to Rs 20,000 segment, and extend premium features across its entire range, including flagship devices.
Xiaomi revealed that its offline and online retail businesses contribute equally to its overall volume, with offline channels accounting for almost 50% of the company’s business. Xiaomi sees significant growth potential in the offline channel and is committed to expanding its distribution network.
As of Q4 2023, Xiaomi held an 18.3% market share, driven by its strategy to launch 5G phones and expand its presence in both online and offline retail channels, according to a Counterpoint study.
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