Xiaomi Launches Mi Exchange Phone Trade In Program in India
The story of Xiaomis offline expansion in India is an interesting one. Only a few fiscal quarters ago, the company didnt have much of a brick-and-mortar presence in India. However, things changed last year with the introduction of Xiaomis Mi Preferred Partners program and Mi Homes, which popped up with increasing frequency in major Indian cities. Theyve been a huge success: Xiaomis is on track to become the�largest smartphone manufacturer in India. And now, the company wants to boost online sales even further with a new trade-in program called Mi Exchange.
Mi Exchange is a partnership between Xiaomi and Cashify that lets customers exchange their old phones for new Xiaomi devices. In an announcement on Wednesday, the smartphone maker said that customers can visit a Mi Home store�to take advantage of Mi Exchange, and that only one device from�Cashifys portfolio can be traded in at a time. Resale value is determined by Cashifys�smartphone application (Xiaomi says its based "purely [�] on the old phone condition"), and customers get it in�the form of an e-receipt. Its then deducted from the non-negotiable purchase price of a new Xiaomi smartphone.
Mi Exchange customers can also opt for Cashifys pickup service. They have to pay full price for a new�Xiaomi phone at time of purchase, but they dont have to visit a Mi Home store to trade in their old phone. Once they schedule a call with Cashify, an employee will come by to collect the phone and pay what its worth.
In separate announcement, Xiaomi announced the groundbreaking of its third manufacturing facility in India. (The company will be manufacturing products at Hipad Technologys facility in Noida.) Its specifically designed to produce power banks, and the first will be the newly announced 10,000mAh Mi Power Bank 2i priced at INR 799, and a 20,000mAh Mi Power Bank 2i priced at INR 1499.
Source: XiaomiVia: NDTV Gadgets
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