One in three Indian users are planning to purchase their next mobile phone in the Rs 10,000-Rs 15,000 price range, a new survey said on Monday, adding that Xiaomi is the most preferred brand for consumers' next purchase in this segment.
In fact, during the recently concluded online festive sales, Xiaomi announced that it sold over 2.5 million Xiaomi devices in less than two and a half days.
According to a statement from the company, this milestone was achieved between 12pm on October 9 and 7pm October 11. Xiaomi devices that were sold included smartphones, Mi LED TVs, Mi Band 3, Mi Power Banks, Mi Earphones, Mi Routers and other Mi ecosystem and accessory products that were sold across Amazonâ€™s Great Indian Festival, Flipkartâ€™s Big Billion Days, and mi.comâ€™s Mi Super Sale.
While two in three users are planning to buy a mid or high-end phone in India, four in five users are satisfied with their current smartphones, said "Consumer Lens", a global research programme by Counterpoint Research.
"Mobile phone users in India are becoming more sophisticated as many of them are on their second or third smartphone. We have seen advanced features diffusing through the mid-tier segment faster than ever before and users are finding these features attractive enough to upgrade," said Pavel Naiya, Senior Analyst, Consumer Lens.
It took less than six months for some of the key flagship features of 2018 to reach the mid-tier market.
"This is likely the reason that one in three respondents in our survey are planning to spend Rs 10,000-Rs 15,000 on their next smartphone purchase," Naiya added.
OnePlus is the preferred brand in the fast growing Rs 25,000 to Rs 40,000 segment, where consumers are looking for premium experiences at affordable price-points.
"There is strong competition to acquire mature smartphone users and we see original equipment manufacturers (OEMs) becoming more aggressive and offering a stronger value proposition in these two important price segments," said Associate Director Tarun Pathak.
While Xiaomi remains the most preferred brand, Samsung is the second-most preferred brand.
OnePlus is ahead of some of the leading smartphone brands like OPPO, Vivo, Apple and Honor as the next preferred brand.