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Would you buy a premium smartphone from Xiaomi?

by David Kerr | 4月 07, 2022

Xiaomi recently signaled its intention to compete for a share of the lucrative premium smartphone market with the introduction of its Xiaomi 12 series in the UK. The Xiaomi 12 series specifications are competitive on paper but are at prices which to date have been limited to only the most iconic brands. Xiaomi 12 is listed at  £749 and the 12 Pro at £1049  retail.

Strategy Analytics assessed the willingness of UK smartphone owners (specifically premium buyers spending at least £450) to consider Xiaomi. We surveyed 1,000 UK smartphone owners in early late March/early April  2022 just after launch of the 12 and 12Pro. 

A couple of juicy stats jump out:

  • The UK has more than  10 million buyers for premium smartphones annually. Average prices have risen in both 2020 and 2021 (12%) as users migrate to 5G and higher specification devices. 
  • One in three UK premium smartphone owners consider Xiaomi 12 and 12 Pro to be somewhat or much better than iPhone 13 or Samsung Galaxy S22 based on the specifications shown to them!
  • A 2-year warranty and repair and 18 minute fast charging zero to 100% power were ranked as top priorities

  • A free smartwatch tops interest across over half of UK smartphone owners 

  • Men are more than three times more likely to consider Xiaomi as a premium brand  they definitely would consider

    Five key questions jump out at us in terms of Xiaomi’s attempt to boost profits and revenues by moving upstream in terms of Smartphone models and pricing:

  • Are consumers open to Xiaomi as a premium brand?
  • Do consumers see the product specifications and value proposition for the Xiaomi 12 and 12Pro as competitive with Apple and Samsung flagships?
  • What are the top priorities of smartphone buyers in the UK?
  • Which bundle options from Xiaomi are most appealing? (Smart watch, smart cameras, smart speaker, free 3 months YouTube Premium)
  • How big is the premium tier segment of smartphone buyers in the UK?

Strategy Analytics clients can access the full report here.

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