27 February 2024

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POCO

POCO stands out as the fastest growing online smartphone brand in India: Report

Despite the overall fall in sales seen by the Indian smartphone market, market research firm Canalys has found that POCO has become the fastest-growing smartphone brand in the country’s online smartphone sales. According to Himanshu Tandon, Country Head of POCO India, the company plans to increase by 75 to 80 percent year on year (YoY) this year.

According to a report quoted by news agency PTI, the smartphone brand’s sales increased by 68 percent year on year (YoY) in the first quarter. This occurred at a time when the country’s smartphone market was experiencing a 10-15% fall. In addition, internet smartphone sales have plummeted by 20%.

According to Himanshu Tandon, Country Head of POCO India, at least 60% of its customers are repeat purchasers. The CEO also stated that the company’s launch of three new C-series smartphones, with the POCO X5 Pro priced between Rs 20,000 and Rs 25,000, aided in sales growth.

POCO aims for 75% to 80% YoY this year

This year, the company expects to increase by 75 to 80 percent year on year. The company is also apparently growing its offline channel reach by establishing four distributors in major cities such as Ahmedabad, Bengaluru, Delhi, and Mumbai. According to the research, the shift in focus intends to boost the brand’s market presence and accessibility even further.

Meanwhile, the F5 was recently released for Indian consumers. The F5 Pro is also scheduled to be released soon. The 8GB+256GB storage option of the F5 costs Rs 29,999. The version with 12GB+256GB storage would set you back Rs 33,999. 

POCO

POCO company performance in India

Poco is a Chinese smartphone brand that was launched in August 2018 as a sub-brand of Xiaomi. The company has been performing well in India, with its F1 smartphone becoming one of the most popular devices in the country. In 2022, the company shipped over 1 million smartphones in India, and it is expected to grow its market share in the country in 2023.

There are a few reasons for company’s success in India. First, the company offers high-end specifications at affordable prices. For example, the Poco F1 is powered by a Qualcomm Snapdragon 845 processor, which is the same chipset that is found in many flagship smartphones. However, the F1 is priced at just Rs. 20,999, which is significantly lower than the price of many flagship smartphones.

Moreover, the company has been able to build a strong brand image in India. The company has been aggressive in marketing its products, and it has partnered with popular celebrities to promote its brand. As a result, Poco has become a well-known brand among Indian consumers. It has been able to tap into the growing demand for online shopping in India. The company sells its products exclusively through online channels, and it has been able to reach a large number of consumers through this channel.

Overall, Poco is a well-performing smartphone brand in India. The company has been able to achieve success by offering high-end specifications at affordable prices, building a strong brand image, and tapping into the growing demand for online shopping.

Here are some of the key factors that have contributed to Poco’s success in India:

  • Affordable pricing

The Company offers high-end specifications at affordable prices. This has made its products appealing to a wide range of consumers in India.

  • Strong brand image

The Company has been able to build a strong brand image in India. This has been achieved through aggressive marketing campaigns and partnerships with popular celebrities.

  • Online sales

The Company sells its products exclusively through online channels. This has helped the company reach a large number of consumers in India.

As a result of these factors, Poco is now one of the most popular smartphone brands in India. The company is expected to continue to grow its market share in the country in the coming years.