How Xiaomi Selling Premium Phones at Budget Prices
Despite being one of the best producers of technological devices, you might be surprised to know that Xiaomi is selling premium phones at a budget price. Xiaomi has become a well-known brand in recent years. Xiaomi mobile phones have cutting-edge features and are reasonably priced for those on limited budgets.
Everyone may not be able to purchase a high-end device, but they may be able to purchase a Xiaomi Mobile without sacrificing quality. Many Android users are attracted to brands like; Xiaomi, Oppo, and many more. These are Chinese brands renowned for selling high-end mobile phones at surprisingly low rates.
Xiaomi Mobile Price starts at PKR 19,999 and goes up to 100,000 and above. If you check the latest Redmi A1+ price it lies in the lowest budget. Many Android users wonder how it is feasible to sell premium phones at a low price, but they cannot get the answer.
This guide will help you to know how Xiaomi sells high-end phones for a low cost.
Background Information Regarding Product Pricing
Product pricing is one of the biggest problems for any business. How can you know that you have set the right price for your product? Will the consumer accept a price slightly higher than the overall cost to achieve a profit? What if it creates a negative impression? These are some of the common questions that might come into mind regarding product pricing.
Pricing is incredibly complex. For instance, the price of a mobile phone includes more than simply the cost of all of its internal parts. It also consists of the expenses for R&D, production, packing, shipping, and storage.
What does Xiaomi Do Differently?
Xiaomi sells the smartphone at a lower cost by eliminating two essential components: Traditional Marketing and an Offline Presence.
These are the significant expenses associated with selling high price smartphones. All of us are familiar with the advertising efforts run by regional businesses. For instance, if you watch TV, these advertisements can be found on almost every channel. The advertisements are well-made and include several well-known celebrities. These advertisements are also published by businesses in magazines, radio programs, websites, and online shops.
Also, the majority of smartphone brands face a substantial cost to sell their phones, from R&D to their physical presence in the market and promoting them through different channels.
Xiaomi made a wise decision by eliminating these additional costs to sell its smartphones at a lower price.
Xiaomi does not Spend on Traditional Marketing
Like the majority of other brands, Xiaomi does not advertise its smartphone. TV and billboard advertisements for Xiaomi are not available. Xiaomi only promotes its product through social media, which is less expensive and more focused.
Xiaomi does not Spend in Offline Presence
Like most other brands, Xiaomi does not have an offline presence. They only offer online sales of their mobile phones from their websites or other online retailers. They no longer need to spend a high amount on transporting and storing phones all over the world.
Xiaomi is one of the most well-known smartphone manufacturers nowadays
Xiaomi started its operation as a software-based company. They have introduced the visually appealing modified Android ROM known as MIUI, which could be installed by anyone on a compatible Android smartphone. To expand their business, Xiaomi required great hardware, so they obtained startup money from reputable investors and collaborated with Qualcomm to produce the Xiaomi Mi1.
And, now Xiaomi is one of the most well-known brands and the most highly valued tech business in the entire globe. Xiaomi’s Mobile market will undoubtedly become more effective as a result which will encourage businesses to develop. Customers will receive premium smartphones at lower costs.
This article gave a detailed explanation of how Xiaomi is capable to sell premium phones at a budget price. While making a decision, it is important to understand the characteristics of a smartphone brand that fits your budget. Many brands offer low-budget smartphones, and Xiaomi is one of them that has succeeded in producing smartphones that are easily affordable by its customers.
Xiaomi offers a variety of products, but its main area of concentration is on the emerging market. For a lot of people, they are an appealing alternative due to their affordable prices. Consumers seeking a high-quality, reasonably priced smartphone can take advantage of this. The author is the co-founder of PinPack – a mobile and electronic e-store.