‘Chinese Apple’ is changing the smartphone industry

'Chinese Apple' is changing the smartphone industry 3
'Chinese Apple' is changing the smartphone industry 3

Which customers to target is one of the most important decisions in the startup process.

The first reason is that when their financial situation improves, they will be excited to buy new things.

From the perspective of entrepreneurs, these two reasons have turned them into a fertile market – rich and crowded enough for the business to grow, and poor enough to not attract the attention of other firms.

Xiaomi has always been accused of imitating Apple’s style.

Xiaomi – a 4-year-old Chinese mobile phone company – has found this market and is rising like wildfire.

However, if you look at Xiaomi’s business model, you will see the difference.

To sell at such low prices, Xiaomi maintains product lines in the market longer than Apple.

Then, instead of setting high prices to compensate for expensive production costs, Xiaomi only charged a price slightly higher than costs.

Xiaomi also came up with a sales method aimed at young people who don’t have a lot of money but still want to prove their class, the way companies promote show ticket sales.

Xiaomi has nearly reached its target of selling 60 million phones in 2014 with a model that fits its expansion strategy in developing countries.

When Xiaomi first appeared, major phone companies did not really compete with this brand, because it was difficult for them to make a profit if they set prices according to consumers’ budgets.

Up to now, from being considered a copied product, Xiaomi has become a real challenge to major smartphone manufacturers.

Related Post

Leave a Reply

Your email address will not be published. Required fields are marked *