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Redmi To Come Of Age: Xiaomi Announces Plan To Make It An Independent Brand Like Huawei’s Honor, OPPO’s Realme
Xiaomi Mi Max 2 (Saumya Khandelwal/Hindustan Times via Getty Images)
Xiaomi Corporation, the China-based smartphone maker, has announced that it would turn Redmi into an independent brand, similar to Huawei’s Honor and OPPO’s Realme, reports New Indian Express.
“Xiaomi has announced to make 'Redmi' an independent brand. The new brand has already scheduled a launch event on 10 January in China where it will launch its first smartphone with a 48-megapixel camera sensor,” said a Gizmo China release.
"While the Redmi brand focuses on value-for-money budget smartphones, the Mi brand is focused on high-end devices. Also, the Redmi devices are primarily sold through e-commerce platforms while Mi devices are not e-commerce focused,” the story quoted Lei Jun, Xiaomi’s founder.
With this split, Xiaomi would have three sub-brands under it: Mi for premium phones, Redmi for budget phones, and Poco for ‘affordable premium’ phones.
India-Focused
Xiaomi, in its IPO filings in May 2018, stated that India accounted for three of its top five sales channels, with the country contributing 32 per cent of its global revenue in 2017.
Also, the company’s revenues increased by 174 per cent standing at almost Rs 23,000 crore in FY18 compared to around Rs 8,400 crore in the previous year. Interestingly, the company has achieved this feat within four years of operation in India.
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