I couldn’t stop myself to pen-down and share this world famous brand which is breaking every single wall of records and achieving all the milestones of the mobile phone industry. And of course, this is none other than one the famous smartphone brand; Xiaomi.
As it is known, In these days It is a very big task to start a business and to take it to the step of success. There was something similar with Xiaomi but some great minded people like Lei Jun, Hugo Barra, Raghu Reddy and one of my favorite Manu Kumar Jain are the main pillars behind this massive expansion and grand success who have toiled hard, invested their souls and finally made this happen. It is really a classic case study of a brand which was not present in the market three years back, is now No 1 brand in India.
I remember when Xiaomi stepped into the Indian market, Those days Samsung used to be the famous leading brand in India and had fully acquired Indian market. For Xiaomi, It was very hard to generate footprints against Samsung but Xiaomi understood the pain of Indian buyers and started offering and feeding the same medicines ( Low price and exceptional specs ). Xiaomi understood the key to success and started unlocking every single door of success. At first, Xiaomi partnered with Flipkart for the Mi3 and started the concept of Flash sales. Those days people were really excited to get the new Mi3. It used to vanish in seconds in the Flash sales. Since then Xiaomi continued and launched many more successful mobile phones like the Xiaomi Mi4 in 2015 and so on. Moreover, Indians perceived Chinese brands as cheap and low quality, But Xiaomi changed that perception. It is cheap but not low quality. In fact, the quality is much higher in comparison to the local brands that are slaughtered in this victory.
To create a successful business empire we need to understand the demand of market and customers. Xiaomi didn’t make a single mistake and understood that Indian market has a huge potential and demand for budget phones and started offering the same which helped the brand to expand the footprints and established an image of value for money products. Later on, Xiaomi launched many budget phones in the Indian market which were really successful. Xiaomi has always focused and made phones with respect to the highly affordable for the customers and market demand. This is the main reason Xiaomi’s phones are very well received in the market and loved by Indian customers.
Since then, Xiaomi never looked back and kept launching new phones with amazing features and affordable prices which made Xiaomi popular and No 1 brand in India. They launched Redmi Note 4 which is the top selling phone in Indian market. There are many reasons behind Xiaomi’s massive success in India but some of them are very important and useful to understand for any startups and entrepreneurs who want to make the successful business. Like, Identifying customers and their requirements. In these days what customers want….?, Great products with amazing features in affordable price right…? These are the main concern of these days. Xiaomi understood this and started making great products and sell them at the really affordable prices.
Here we need to understand, why most of the people in India prefer to buy Maruti Suzuki cars…? And the answer is, they manufacture according to market and consumer needs. Keeping performance, engine life, low maintenance and other features in mind to ensure they don’t have anything missing. These are the main reason behind their massive success in Indian market. And Xiaomi understood and incorporated the same business concepts and started making the products according to consumer needs. Focused on performance, battery life and other features which were the main requirements of Indian consumers.
To make a successful business we need to work according to time and its demand. We need to keep open eyes on the market and ready to incorporate new mediums, features, and technologies which are trending in business. E-commerce market was trending when Xiaomi launched their first phone in India and they took the advantage of it. Xiaomi made the right decision at the right time and became the first one to leverage the online model of sales partnering with Flipkart and Amazon. They even use their own website that gets more than million monthly visitors to increase sales. The flash sales model was revolutionary it creates a scarcity of the product and make people more curious and wanting.
As of now, Xiaomi has been the market leader in India by acquiring 57% shares of online smartphones shipments. Xiaomi has been the king of online mobile sales. A very big milestone for the company by selling more than 30 million phones in Indian market. “What got you here, won’t get you there”, This message is fully understood by Xiaomi and that is why they always come with new features and amazing concepts. As of now, Xiaomi has started focusing on an online-only player to retails online model. They just want to increase their reach and presence in small towns and rural market.
A very great thanks to Manu Kumar Jain and Xiaomi team to create such a huge brand and market presence in India. We wish all the best to Xiaomi and team for forthcoming new and amazing products in future. A great and inspiring business model is being delivered by Xiaomi.