How Xiaomi became India's No.1 smartphone company?

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Xiaomi is being unknown amongst 300 brands but in 2014 Xiaomi became the No.1 brand in several categories such as smartphones, power banks, smart TV and much more in merely 5 years of time.

Let's take a look at how Xiaomi was able to do this:



1.Cheapest Rates:

It is the DNA of Xiaomi with every product they launch they undercut the competition and thus attracting more customers.

2.Specifications:

One of the biggest reasons for success is Specifications. The company is providing high-quality specifications such as camera quality, processor, memory, display and many more.

3.MIUI:

Xiaomi has created its monopoly by creating a high-quality user interface. MIUI is a very special feature because Xiaomi is the only company which provides regular updates of the user interface.

4.Flash Sale:

Users simply cannot buy newly launched smartphones of Xiaomi. It creates a monopoly by creating flash sales. It means the phones will be available at a particular time with limited stock and thus maintaining hype for a longer period of time.

5.Made in India:

The company started launching their phones with Made in India slogan. These are not 100% made in India but phones are just assembled in India.

6.R & D costs:

The reason behind the cheap price of smartphones is R & D costs. The company is not spending too much money compared to Samsung and Apple. Xiaomi just adopts the newest design and technology.

7.Advertising strategy:

In the initial stage of the company in India, Xiaomi started spending money on digital ads rather than traditional ads. Till this date, the company is less spending money on traditional ads.

8.Profit Margin: 

Taking less profit and giving more specifications that’s the strategy of a company. By doing this, the company is selling more and more smartphones because the price of smartphones is comparatively less than other companies. Xiaomi is earning more profit from its other accessories than from a smartphone.

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