According to Counterpoint Research, a global market research firm, Xiaomi became the top smartphone company in Bangladesh in the second quarter of 2022. The global technology giant has ascended to the top position in Bangladesh with a 28.8 perecnt market share and 134 percent annual growth. According to the report of the research firm, Xiaomi’s local production and demand for its affordable smartphone models mainly contributed to this success. After officially entering the country's market in 2018, what are the reasons for Xiaomi to attain such incredible success in a short time of four years?
Xiaomi's ‘Fan First’ Strategy
Xiaomi always gives utmost importance to customer feedback. Being a youth-centric brand, it always recognizes the opinions, likes and dislikes of the youths about the device. Xiaomi has a large global community of fans. They are the ones who greatly contribute to the development of the Xiaomi brand and products. Xiaomi Community Bangladesh now has more than five lakh registered fans. Xiaomi meets fans online and offline at different times and enriches its plans with their feedback.
Xiaomi’s diversified portfolio
Xiaomi is one of the most diverse brands in the country. Each of Xiaomi's product lines tells a different story, bringing products targeting all categories of people. For example, Redmi series phones generally cater to entry and mid-range levels, while Xiaomi series phones are high-end ones. This is how Xiaomi brings different models of handsets with emphasis on people's income, age, and region.
Online and Offline presence
Xiaomi has a strong presence in both offline and online markets in the country. Xiaomi smartphones and other products are sold through retail and online partners. It has more than 300 authorized Xiaomi Stores and more than 4,500 authorized retailers nationwide to sell the devices. Besides, Xiaomi devices are reaching out to consumers’ doorsteps by collaborating with various e-commerce platforms.
Local manufacturing plant
Xiaomi set up a factory in Bangladesh in October last year. Currently, 95 percent of Xiaomi's total smartphone demand in the country is being produced in local factories. All the entry and mid-range phones like Redmi 10A, Redmi 10C and Redmi Note 11 are manufactured in the country. Customers are also enjoying the phone at an affordable price. As a result, the popularity of Xiaomi is increasing day by day. Xiaomi is working on bringing more surprises with 'Made in Bangladesh' in the future for its customers.
Quality service
Xiaomi always prioritizes after-sales service to customers. Xiaomi has quickly won the trust and hearts of fans in Bangladesh by providing market-oriented products and excellent after-sales services. Currently, Xiaomi Bangladesh has more than 40 service centers and over 42 collection points. In addition, RedQuanta Bangladesh, a leading consumer intelligence firm, has already declared Xiaomi as the best brand in terms of after-sales service in Bangladesh.
