Smartphones are an integral part of our daily lives. They are used not just for communication purposes, but also for entertainment, photography, listening to music, streaming videos and even for work reasons. People of all ages, old and young, use smartphones extensively and their usage has been constantly increasing. The pandemic has made smartphones even more important. Students use them for online classes and to work on their assignments, projects, internships etc., while professionals use them for formal and informal communication, easy sharing of data and work material and even to work on their projects and presentations. The smartphone market is truly a gigantic one and there are many household names that fulfil the needs of different types of consumers. Mi is one such brand in the mobile phones industry.
Devices from different companies across the world are being given a run for their money by Mi best phones. Their arsenal of affordable 8GB RAM mobiles with amazing battery and camera quality is impressive in and of itself. Furthermore, the brand offers a variety of devices with varied storage capacity, RAM, processors, cameras and much more that satisfy the needs of their diverse customer base. Although most of their phones are very affordable, if you are still looking for a way to mitigate the costs, then the Bajaj Finserv EMI Network Card is your best bet. The EMI Network Card allows you to purchase products on No Cost EMI, with flexible tenors offering greater convenience.
We know that Mi is already a household name in both the global as well as the Indian mobile phone industry. But what is it that makes this Chinese smartphone company such a popular choice among the consumers? Is it the slew of affordable 8GB RAM mobile phones, the astonishingly good camera quality and battery life, the impressive screen size or the fast processors that their phones possess? In reality, it’s not any one of these factors alone, but the combination of these technical features coupled with an ingenious marketing and pricing policy. Additionally, collaborations with international icons, local collaborators and a litany of other small factors make this Chinese company such a fan favourite. We take an in-depth look at what makes Mi such a monster in the mobile phone industry.
What makes Mi smartphones so popular?
When it comes to purchasing smartphones in India, one name that springs to mind is Mi. Almost every second person would be using a Mi phone to the point where, whenever a phone rings in any crowded environment, the distinctive Mi ringtone would make it impossible to differentiate one’s phone from the other. We’ve all seen the company’s genius marketing effort of “Kiska baja” advertisements. In 2021, India’s smartphone user base is estimated to exceed 760 million. As of Q1 2021, the Chinese company, which has topped the Indian smartphone market for three years in a row, had a massive 26 percent market share, compared to Samsung’s 20 percent. That’s a big jump for a company that only had 3% of the market in 2015. Xiaomi’s creative marketing strategy has played a big part in this expansion.
Mi understands its consumers very well. The needs of Indian consumers differ from those in the western markets. What works in international markets may or may not work in India. And Mi understands this. For example, in China, Mi sells around 200 goods, but in India, the number is about 20. To better serve Indian customers, the business has built a dedicated R&D department in Bengaluru. India is a cost-conscious market. This means that customers in this country are extremely sensitive to changes in product pricing. Prior to the introduction of inexpensive smartphones, smartphones were unable to reach the public due to their exorbitant pricing. Mi saw this as a possible opportunity and set out to strengthen its position in the Indian market by focusing on those who had been left out of the telecom revolution and the internet’s boom.
Thorough analysis and research
Mi conducted a thorough analysis of Samsung and Apple’s competitive tactics in the Indian market. It was established that both brands have a loyal following and a well-developed operating system (Android and iOS, respectively). It acted on these findings and began developing its own proprietary UI, known as MIUI, which is based on Android OS. To compete with companies like Samsung, Apple, OnePlus and others, Mi had to consistently improve its product line. This was accomplished by gathering user feedback and putting it into the following edition.
Lastly, professionals were hired to manage the company’s social media and internet forums. This group began interacting with the local community. Apart from that, Mi has undertaken numerous social media campaigns to promote its smartphones and has made great use of word-of-mouth marketing. Chinese companies had already successfully outfitted cheap phones with 4G technology and were selling them back home by the time 4G came to India! This made it easy for Mi to switch phones from 3G to 4G in India in a matter of days, effectively destroying Indian brands like Micromax that didn’t react quickly enough.
So, these are some of the reasons why Mi is such a juggernaut in the mobile phone market. If you are looking to get yourself a new Mi smartphone as well, you should consider getting the Bajaj Finserv EMI Network Card. The EMI Network Card allows you to pay for any product in interest-free monthly instalments. You can select the repayment terms that are convenient for you, with tenors ranging from 3 months to 24 months.
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