Smartphone firm reworks India strategy

The Chinese smartphone maker Xiaomi is overhauling its India strategy in a country where consumers are increasingly opting for more expensive handsets with better features, slowing the demand for budget phones, analysts said.

The company said it has introduced "too many" models in the past and is revamping its product lineup to focus on premium smartphones. It launched Redmi Note 12 in January, and the Xiaomi 13 Pro, which costs $970, is the company's most expensive phone to date in India, Reuters said in a recent report.

Xiaomi's market share in India fell from 21 percent in the first quarter of 2022 to 16 percent in the corresponding period this year, pushing the Chinese brand to fourth position, behind Vivo, Oppo and Samsung, in the huge market, according to data pushed by the global market analysis and research firm Canalys.