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Xiaomi

07 April, 2020, 10:44 PM IST

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Xiaomi pledges 15 crore to relief fund

“Xiaomi will donate INR 10 crores to the honorable PM’s relief funds and CM’s relief funds across various states,” Xiaomi Global VP and India MD Manu Kumar Jain said in a statement. The company will continue to donate lakhs of face masks and protective suits to hospitals across States.

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  • “When the markets reopen, all the major OEMs will rush to address the latency in demand by heavily incentivizing both offline and online channels,” said Neil Shah, Research Director, Counterpoint Research. Almost all major phone brands have suspended launch of their latest offerings including Oppo Enco M31, Vivo V19, Realme Narzo and Xiaomi Mi 10 while keeping stocks on hold.

    “The rupee has depreciated significantly against the US dollar. Since we maintain less than 5% profit margin for all our hardware products, we have no option other than to increase prices,” Manu Jain, India head at Xiaomi, India’s leading handset maker, said in a note to customers.

    India's contribution to global smartphone production had jumped to 16 per cent in 2019 from 9 per cent in 2016, as several handset makers cut down output in China or moved out due to the US-China trade war and received heavy incentives by the Indian government to beef up manufacturing in the country.

    Industry bodies Manufacturers’ Association of Information Technology (MAIT) and India Cellular & Electronics Association (ICEA) have written to the government seeking concessions in the delivery of smartphones among other electronics devices and removal of restrictions on the movement of components for inland and export purposes.

    However, its fellow Chinese handset maker and closest competitor in India, Vivo India, said it will not immediately increase prices of its smartphones and will absorb the temporary component cost fluctuation.

    The Mi MIX Alpha comes with surround display that wraps around the phone and it is an all-glass phone. In terms of specifications, the device features a massive 7.92-inch flexible OLED screen that offers a screen resolution of 2088x2250 pixels. However, There's no selfie camera on the Mi MIX Alpha.

    Smartphone companies are likely to slash their marketing expenditure by up to 70% as footfalls disappear in brick-and-mortar stores and orders slide on ecommerce sites due to the Covid-19 pandemic, market experts said.

    Neil Shah, Research Director at Counterpoint Research added the pandemic will surely impact marketing budgets of brands as TV and digital ad slots will become expensive for next few weeks

    Handset makers and mobile retailers said the proposed GST hike on mobile phones is a “counter-intuitive and insensitive” move that will place an additional burden of ₹15,000 crore on the consumers

    The decision to hike GST on mobile phones to 18% from 12% was taken at the GST Council meeting chaired by finance minister Nirmala Sitharaman on Saturday. The move was made to correct the inverted duty structure. Handset makers, however, said the rationale of correcting the inverted duty structure by increasing GST is misplaced.

    Chinese phone makers Xiaomi, Oppo and Realme have launched their financial services apps called Mi Credit, Oppo Kash and Realme Paysa to offer small ticket loans to SMEs, credit score analysis and insurance cover.

    “We are thrilled to partner with Shraddha in this exciting journey as her ability to strike a real chord with the masses and undeniable charm will cement realme’s tech trendsetter positioning among the target audience,” said Madhav Sheth, Vice President and CEO of Realme India.

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