A lot of factors contributed to the growth. Starting with the macro factors first. While the pandemic has been very very hard on everyone, it has also seen a massive rise in the adoption of online shopping. People who were earlier not comfortable buying products or services online have now started transacting online and are a lot more comfortable with the idea of shopping online. Parallelly, and related in some way, we’ve also seen the shift from feature phones to smartphones finally happening at a much faster pace. With smartphones being so easily accessible from a price point perspective, it is undoubtedly the preferred medium when it comes to adapting to the online lifestyle. While these are some of the external factors that have helped the numbers scale up rapidly, POCO also started shifting its strategy a bit around the same time. POCO started with the F-series, which was in the 20K and above segment. However, all our launches since the beginning of 2020 have been in the sub 20K segment, until the latest launch, the F3 GT, where we again introduced a mid-premium offering. So, we now have offerings at all the key price points (8K, 11K, 14K and 18K), and that bet seems to have paid off.
News Source: Gizmochina
