NEW DELHI/LUCKNOW, India ¨C Xiaomi is overhauling its India strategy after misjudging consumer tastes in mobile phones, a costly lapse that has allowed Samsung Electronics to pip the Chinese company to the top spot in the world¡¯s second biggest market for the devices.
While Xiaomi remained focused on selling mobile phones under 10,000 rupees ($120), Indian consumers were willing to pay up for better looking models with richer features. South Korea¡¯s Samsung launched products to meet those aspirations and offered innovative financing schemes that made them affordable to most.
Those moves have helped Samsung wrest leadership of India¡¯s competitive mobile phones market from Xiaomi , with data from Hong Kong-based Counterpoint Research showing it had a 20% market share for the last quarter of 2022 compared to the Chinese company¡¯s 18%.
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