How Xiaomi will look to make you forget Apple iPhones, Samsung Galaxy phones

Premium smartphone buyers are likely to have more options to choose their handsets as Xiaomi is looking at expanding its focus in this fast-growing segment. This will bring it in direct conflict with Samsung, Apple, OnePlus Vivo and Huawei. Xiaomi is soon set to enter the premium segment with a sub-brand, POCO, in India as well as globally, said an Economic Times report. Considering how this company has taken India by storm, its plans are a big reason for rivals to worry.
 
The technology firm has reportedly appointed Jai Mani as the lead product manager for the sub-brand, which will focus on 'real speed'. The development in in the wake of brands like BBK-owned companies OnePlus, Vivo and Oppo spreading wings in the premium segment, said the ET report, adding that OnePlus has managed to corner a commanding market share in India's growing premium market space.
 
"I am so excited to be embarking on a new journey with a small group of colleagues — a journey that I hope will build on the 4 years I've spent at Xiaomi and make the products that I have always dreamt of. We are calling this project POCO and we're extremely fortunate to have the support of Lei Jun, Manu and the rest of Xiaomi," Mani reportedly said.
 
The brand, POCO, will be backed by Xiaomi's supply chain, operations and service infrastructure, said Mani, adding "As a small outfit within Xiaomi, POCO has the freedom to start from scratch, zeroing in on the product choices that matter." 
 
He further said the prices of flagship smartphones have gone past the $1000 mark, while the pace of innovation has slowed down, adding "We set out to build something to buck this trend." 
 
Sources told ET that Xiaomi's India head and International vice president, Manu Jain, will oversee the operations of the brand in India. Earlier this week, Jain told ET, "I think, now the time has come when we should launch above Rs 20,000 devices because people are now looking for an upgrade. We want to give them the right kind of choices. The average selling price [for smartphone] of the market is going up, so we want to move along."
 
Notably, domestic firms like Lava and Micromax had in the past tried their sub-brands Xolo and Yu, respectively, but failed. China's Lenovo also failed to keep pace with the market, other Chinese brands including Huawei and Oppo have tasted success with their sub-brands Honor and RealMe in India, with online-first focus. 
 
Watch this Zee Business video 

The top three brands, OnePlus, Samsung and Apple, reportedly contributed to 88% of the overall premium market as compared to 95% a quarter ago, due to the entry of players like Huawei, vivo, and Nokia in the category.