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POCO: XIAOMI’S NEW TOY WHERE WILL IT ACTUALLY HIT THE INDIA SMARTPHONE MARKET? POCO, a sub-brand of Xiaomi signalling its premium Brand Share- Top Brands (INR 15-40K) smartphone aspirations, launched the POCO F1 this week, with an aggressive pricing with respect to Others specications. With various variants of the POCO F1 Samsung launched across the INR 20K-30K price band, this One Plus premium smartphone brand is actually targeting the consumers beyond this price segment. Currently INR 20K-30K contributes to almost 4% in term of market Xiaomi share and 9% of the revenue share of the India Smartphone Market. The POCO F1 has the potential to impact the smartphone market upto three times of Apple its price band segment. Market Potential for POCO Oppo Vivo Price Band Market Revenue IRN Share share will face some marginal impact. Nokia and Huawei 15k-20k 7% 11% are the other major brands that will take the hit from 20k-30k 4% 9% POCO. Apple will be the least impacted. 30k-40k 1% 4% In Conclusion 40k-50k 0% 1% From a smartphone innovation perspective, the Total 13% 24% POCO by Xiaomi debut will force the competition to go back to the drawing board, and build new innova- In terms of specications, POCO smartphones is POCO Heat Map aiming to compete with the likes of OnePlus 6 and Samsung Oppo Xiaomi Nokia Asus Zenfone 5z. However, in terms of pricing, there Vivo Apple OnePlus Huawei is a long list of competition beyond these two brands. Considering the INR 15k to 40K price segment where tions while maintaining optimal pricing. POCO is likely to have an impact, there are almost 20- The road ahead for Xiaomi will be all about adding 25 brands with the top six brands having around 89% more brand value, strength and personality to the market share. newborn brand, and enable it to It is my view that the entry level variant of POCO compete incumbent brands. The F1 has the potential to cannibalize the sales of Xi- real challenge for POCO, over the aomi’s Redmi Note 5 6GB 64GB variant, as well as all longterm, will be to shed its ‘val- future Xiaomi launches in the above 15k segment. ue for money’ image of Xiaomi In terms of competition, three brands, Samsung, and embracing and embodying Vivo and Oppo are likely to feel more heat from the ‘premiumness’ that it seeks. POCO. On the other hand, OnePlus having already By Narinder Kumar, Manager, gained the customer condence, and boasting of a Industry Intelligence Group distinct premium brand identity and fan following, (IIG), CyberMedia Research pcquest.com twitter.com/pcquest facebook.com/pcquest linkd.in/pcquest [email protected] OCTO BER 2018 PCQUEST 35.

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