Sources say Xiaomi plans to streamline its product portfolio in India to regain market share

Thanks to CTOnews.com netizens Wu Yanzu in South China for the delivery of clues! CTOnews.com, July 25 (Xinhua) Xiaomi plans to focus on 5G smartphones and streamline its product portfolio in India to regain market share lost to competitors, including Samsung Electronics, foreign media Bloomberg reported.

Xiaomi has been a leader in India's smartphone industry for many years and has lost some market share due to regulatory and other issues, the media said. In the first quarter of 2023, Xiaomi ranked only fourth in the Indian smartphone market, behind Samsung, OPPO and vivo, according to research firm IDC.

According to CTOnews.com, Muralikrishnan B, president of Xiaomi India, said last week that after years of strong bets on online ecommerce, Xiaomi would focus on increasing sales in offline channels such as Indian retail stores to seek to revive smartphone sales.

Muralikrishnan B, a screenshot of Xiaomi's official Indian website, said: "our offline market position is much lower than online, but other competitors are doing quite well offline and have a larger market share."

According to Counterpoint Research, only 34 per cent of Xiaomi's sales in India this year come from retail stores, with the rest from online websites that have long been its main source of sales. By contrast, 57% of Samsung's sales come from brick-and-mortar stores.