NEW DELHI: Chinese phone giant Xiaomi is looking at a 100% transition to 5G smartphones by next year as the company competes with compatriots Vivo and Oppo, as well as Korean Samsung, for leadership in the Indian devices market.
However, while it hopes for a revival in the smartphone business, the company said it has “no immediate plans” to launch its electric smart car ‘SU7’ in the country, even as it displayed the green vehicle in Bangalore.
The company, which once led the smartphone business but now trails Vivo, said that the trend remains strong in the 5G space, even as AI will take time to build up. The focus of the company will be to migrate the entire line-up to 5G, and the transition should happen in 2025. “Over 90% of our portfolio is now 5G led, and this should be 100% soon,” Xiaomi India Chief Operating Officer (COO) Sudhin Mathur told TOI.
Mathur, who was elevated to the position recently, takes charge at a time when the broader smartphone market is yet to see a full recovery, even though the average selling price (ASP) went up substantially.
“Consumers are now upgrading to mid-premium and premium categories, and ASP has been moving up. That’s a clear trend. While numbers are still stagnant, it’s no longer about volumes as ASP firms up, enabling the industry to grow in value terms. The real trend now is how to provide a better experience to consumers.”
Anuj Sharma, Chief Marketing Officer at Xiaomi India, said the market was flat for the past few years, though there are signs now that volumes will also start growing. Consumers, he said, are now taking time to change their devices against previous trends where they were upgrading swiftly.
Asked whether the trend towards AI would become stronger in India with the launch of devices from Apple and Samsung, Sharma said the technology will take time to pick up. “AI surely is the buzzword. But I don’t think that utility has caught up with the hype. AI will take at least 2-3 years to build up.”
On launching the SU7 electric car, the company representatives said that there are no plans currently. “It is not an easy business. The company will initially focus on the China market and then look at expansion globally. For India, we need to study and research before committing anything.”
