In Short:
Xiaomi focuses on HyperOS for AIoT journey and winning consumer trust. President Muralikrishnan B discusses premiumisation, 2G to 4G shift, 5G devices, local manufacturing, and offline channel strategy. Highlights include early Make in India participation, 200M smartphones shipped, and 10M smart TVs sold. Future plans include premiumisation, integrated smartphone x AIoT strategy powered by HyperOS, and omni-channel growth. Commitment to winning customer trust remains a key focus area.
Xiaomi, a smartphone and consumer electronics maker, is focusing on HyperOS as it enters the Artificial Intelligence of Things (AIoT) journey. The company emphasizes the importance of gaining consumer trust as it moves forward. In a conversation with ETTelecom’s Muntazir Abbas, Xiaomi India president Muralikrishnan B discusses various aspects including premiumization, consumer shift from 2G to 4G devices, 5G smartphones, components ecosystem, local manufacturing, and offline channel strategy. Here are some edited excerpts.
Decade in India: Hits and Misses
Reflecting on the past decade in India, Xiaomi takes pride in its contribution to Digital India by offering affordable 4G devices. The company highlights its early involvement in the Make in India initiative, with all phones and TVs sold in India being locally manufactured. Xiaomi also acknowledges its success in shipping millions of smartphones, smart TVs, and other devices.
Focus Areas and Innovation
Xiaomi admits that entering the premium segment earlier and accelerating the development of AIoT devices could have been areas for improvement. The company remains committed to innovation through investments in research and development. With the changing Indian market landscape, Xiaomi places a strategic bet on premiumization.
Strategic Priorities
To align with evolving consumer aspirations, Xiaomi outlines three key strategic pillars for the coming years – total premiumization, integrated smartphone x AIoT strategy powered by HyperOS, and execution of an omnichannel approach through online and offline retail channels.
AI, AIoT, and Make in India
Xiaomi discusses the role of AI in core smartphone technology and its AIoT product portfolio. The company emphasizes its partnerships with various manufacturers for local production and sourcing of components. Xiaomi remains committed to driving the Atmanirbhar Bharat initiative and addressing challenges in the industry.
Business Roadmap and Future Initiatives
Looking ahead, Xiaomi aims to focus on customer trust and experience while expanding its premium offerings. The company anticipates growth in the market and emphasizes the importance of fully embracing 5G technology. Xiaomi continues to cater to the evolving needs of Indian consumers through a range of devices and services.
Channel Contribution and Expansion
Xiaomi reveals that offline sales account for nearly 50% of its business, with plans for further expansion and growth in this channel. The company works closely with online platforms like Flipkart and Amazon while strengthening its presence in retail outlets across the country.
