Poco’s success in the Indian market has been growing since its inception and now the brand has reached a new milestone. Poco has emerged as India’s fastest-growing online smartphone.
According to a report by Canalys, Poco registered 68% year-on-year (YoY) growth in sales during the first quarter of the year. To recall, India’s overall smartphone market saw a 10% to 15 percent decline during the same period. The online smartphone market didn’t fare too well, with online sales on the decline (20 percent down).
A Bright Future
According to Poco India’s Country Head, Himanshu Tandon, the brand aims to achieve anywhere between 75% to 80% year-on-year growth this year. Tandon noted that at least 60 percent of Poco customers are repeat buyers.
Poco is also reportedly expanding its reach to offline channels by setting up four distributors in major cities like Ahmedabad, Bengaluru, Delhi, and Mumbai. The move is targeted towards strengthening the brand’s presence and making it more accessible to offline buyers.
Key to Poco’s Success
Tandon added that the driving force for Poco were the launch of three new C-series smartphones as well as the Poco X5 Pro, which helped the company boost sales in the Rs 20,000 to Rs 25,000 price range.
Poco’s growth in the Indian market can be down to its value-oriented formula, delivering reasonably priced smartphones with segment-leading specifications. The recently launched Poco F5 was one of those phones, delivering the best performance of any smartphone in the sub-30K segment.
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