Xiaomi, one of the reputed players in the Smartphone industry, has decided to make POCO as an individual company. This company will function independently across the electronics market in China. Furthermore, the company will make its market strategy on its own. It will divide profits amongst the stakeholders all by itself.
The move was introduced when Jai Mani and other founding members decided to part away from the sub-brand. The organization insisted that the smartphone that was launched under the banner, POCO F1 is running successfully across all the markets.
The cost of the smartphone is priced at $300 and was introduced across 50 markets. Manu Kumar Jain, who is the VP of Xiaomi, stated that POCO has managed to earn its own identity. This also has happened within a short duration of time. The smartphone is dominating the market at ease and is becoming popular as the demands are also rising.
Manu Kumar Jain further added that the officials think that POCO can manage its expenses and strategies efficiently. Moreover, this is the only reason why they are considering spin-off POCO as an individual brand in the upcoming days.
In his statement, he said, “POCO F1 is an extremely popular phone across user groups, and remains a top contender in its category even in 2020. We feel the time is right to let POCO operate on its own now, which is why we’re excited to announce that POCO will spin-off as an independent brand.” Stay tuned for more updates on the same!
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