Xiaomi is still one of the biggest smartphone manufacturers, but their sales are not good as expected. Lei Jun, CEO of Xiaomi, addressed a letter to the employees. Lei Jun is aware that Xiaomi is not doing well according to a leaked report. Although Xiaomi offers phones in a range of price points, the customers are gradually choosing other smartphone manufacturers.
Xiaomi’s sales in Q4 2022 fell 22.8% year on year. China’s smartphone market faced a drop through 2022, according to research company Canalys. In our previous article, we shared a report that Xiaomi’s sales are not going well, you can read the article here: Smartphone sales decrease 18.3% at last quarter of 2022. Lei Jun admitted that he was not satisfied with Xiaomi’s performance in an article published in the Financial Times. Previously, Lei Jun argued that they were in decline due to the COVID-19 pandemic. While there’s nothing wrong about it, Samsung is now the new best seller smartphone brand in India.
While there is popularity in India for Xiaomi, analysts claim that this is a result of consumers switching to more expensive smartphones. For example anyone could wish to purchase a more expensive phone when they land a job with a greater wage, which is negative for Xiaomi since there are many alternative premium devices. Xiaomi should equip its flagship devices with more features and midrange devices should be sold at more affordable prices to overcome this.
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