In India, Xiaomi, a prominent tech company, has experienced a 200% increase year-on-year in 5G smartphone sales during the festive Diwali season. This rise can be attributed to strong demand from smaller towns for its pocket-friendly smartphone models introduced earlier this year. The company's senior official revealed to ET that they are starting to see tangible signs of reclaiming their market position.

The executive stated, This Diwali, our 5G sales have gone up by 200% compared to the last festive season, driven by quick 5G deployment and the natural compatibility of 5G with live streaming sports events like the Cricket World Cup.The executive, Muralikrishnan B, also highlighted that the demand surge was not just a city-based phenomenon. He shared that apart from predictable markets like Delhi and Mumbai, cities like Ahmedabad, Kozhikode, and Surat also featured in their top five.

According to the executive, the company has made considerable progress since the difficult times of 2022. This progress includes improving in standing from being fourth at the beginning of the year, to having a clear and executable strategy. Xiaomi carries ease and optimism into 2023, though there is still work to be done in terms of focusing on premium products and building offline capabilities.

As per IDC India, Xiaomi claimed the leading position in smartphone volumes with a market share of 17.4% at the end of the September quarter. This result includes the contribution from its sub-brand Poco, which experienced a 50% year-on-year growth during the same period. Muralikrishnan conveyed that they had started seeing positive signs and green shoots from the third quarter onwards, particularly after facing challenging market conditions throughout the second half of 2022.

Regarding the economic condition, he said,The economy continues to be robust. Owing to a decent monsoon this year, rural demand has surged. Since Independence Day and Onam, the positive sentiment has been high, with the festive season playing out well.

There is great interest within the company around the potential of 5G in India. Plans are in place for an announcement next month that should further accelerate 5G adoption in the country. The company's TV business has also seen tremendous growth lately. They recorded a 30% year-on-year growth during this period, with customers upgrading from 32-inch panels to 43-inch panels with 4K resolution. The 43-inch 4K segment noticed an over 75% year-on-year growth.

What has changed for the company now, is that being the top smartphone brand in the country no longer represents their priority. Instead, they focus on being efficient, sustainable, and most importantly, being loved and trusted by their customers. This approach has worked well for them this year. With this mindset, they aim to drive the ecosystem play in India, see it as an opportunity to create a market than grabbing the share, using their large smartphone base to drive Artificial Intelligence of Things, which is currently in an early stage.