Aiming to boost penetration and enhance sales, Xiaomi has partnered with New Delhi-based Cashify to let Indian users exchange their existing handsets with new Xiaomi smartphones.
Under the Mi Exchange programme, customers can exchange the old smartphone by visiting to a nearby Mi Home store to buy a new smartphone. Based on some parameters, the Cashify team will assess the value of the dated model and offer a suitable resale amount that will be reduced for the new Xiaomi device.
Exchange customers can also ask for a pickup service from Cashify. In this scenario, the customers will be required to pay in full for their new purchase at the Mi Home store. Cashify will pay them for their old models at a later stage.
It is worth noting that only one device can be exchanged with an Xiaomi smartphone at Mi Home, and the unit being exchanged should be listed in Cashify portfolio.
Xiaomi and Samsung together contributed to almost 45 per cent of the Indian smartphone market in the third quarter of 2017 as the market grew 37 per cent (quarter on quarter) and 18 per cent (year on year), temporarily surpassing the US for the first time ever, a report by Counterpoint Research has said.
With a market share of 23.5 per cent and having shipped 9.2 million smartphones, China’s Xiaomi became the number one smartphone vendor in India in the third quarter of 2017.
The company has also become the fastest growing smartphone brand in India with a growth rate of nearly 300 per cent year-on-year, market research firm IDC has said.