The sales of Chinese smartphone company Poco are skyrocketing, with a growth of as much as 865% in the second quarter of 2021, as confirmed by the IDC’s Worldwide Quarterly Mobile Phone Tracker (August 2021) report.
All this while the company has only 10 smartphone models to offer!
As we all know, Xiaomi launched Poco as a sub-brand three years back in 2018. Poco rose to fame as a young smartphone brand following the company’s debut, Poco F1’s success.
Let’s look at three major reasons behind this massive increase in the popularity of Poco!
Effects Of The Pandemic
Yes, the pandemic has actually boosted the sales of the company’s smartphone models. People resorted to online shopping to buy stuff right from groceries to electronics. This acted as a catalyst for the company’s smartphone sales, resulting in the incredible increase in the sales of the smartphone models by the company. The company already has Poco F1, Poco C3, Poco F2 Pro, Poco M2, Poco M2 Pro, Poco X2, Poco X3, and Poco X3 NFC in its portfolio.
Transition From Feature Phones To Smartphone
The world is transitioning rapidly from feature phones to smartphones and this is a major reason for the boost of the sales of the company. As we recently reported, Realme and Poco were the top smartphone brands on Flipkart, capturing more than 50 per cent of the shipments on the platform. Poco has also managed to grab 40 per cent market share and ranked among the top performing online brands.
Pricing Strategy
As per Anuj Sharma, Country Director, POCO India, Poco started shifting its strategy around the time the pandemic hit and people started buying things online. The company started with the F-series, which is in the 20K and above segment. Poco now has models at each key price point – 8K, 11K, 14K and 18K, which helped boost the sales of the company. In May, Poco became the fastest growing smartphone brand in India with a whopping 300 percent yoy growth in the first quarter of this year.
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