When a new brand enters the market, it has to gain speed to gain the trust of customers. But Xiaomi's journey is different. The brand got quite popular in the beginning. What is the reason for this?
Ziauddin Chowdhury: The use of modern technology in smartphones was concentrated. We might be able to talk or use some features on mobile phones. But many modern conveniences were lacking in the budget. Xiaomi has done just that. Due to this, it became quite popular among the youth in the beginning. Xiaomi's main promotion is word of mouth due to the use of modern technology within the budget. Which worked well for us.
Once upon a time, 100% imports were used to meet the demand of mobile phones in the country. Now few companies including Xiaomi are producing mobile phones in the country. Do you have the production capacity to meet the needs of the country?
Ziauddin Chowdhury: Yes, that is definitely possible. The production of mobile phones in the country has been started for six-seven years. The demand so far is 40 to 50 percent of our production capacity. If the demand doubles in the next few months, we have the capacity to meet that too.
It is not a very good day for the beginning of the new year. What are you thinking about 2025?
Ziauddin Chowdhury: Many people think of Xiaomi as just a mobile phone company. But we are primarily a technology company. Next year or in the future, our goal is to bring various Xiaomi products to the customers of this country; So that all customers can take advantage of Xiaomi's tech. For example, this year we have brought our own operating system HyperOS to the market. HyperOS 2.0 will arrive in 2025. It will bring together Xiaomi's new handsets, smart home devices and electric vehicles.
You have previously worked in several mobile phone manufacturing companies. What separates Xiaomi from other brands?
Ziauddin Chowdhury: Firstly, Xiaomi never compromises on quality. But Xiaomi is reaping the benefits and the market is getting bigger. While talking to various users, I have also seen that some are using Xiaomi's 'Note 4' model. When someone expresses satisfaction even after 7 to 8 years of using a mobile phone, it becomes the most pleasant thing. Apart from this, we are also committed to servicing the mobile phone after purchase.
Since he talked about servicing, in that case many brand mobile phone customers suffer with service. What is the role of Xiaomi in this field?
Ziauddin Chowdhury: Can't speak for other brands. But Xiaomi strives to resolve most of its customers' issues within four hours. We have around 35 service points across the country. Xiaomi customers are part of our family. So we always try to keep their experience positive.
How is the mobile phone industry contributing to the country's economy?
Ziauddin Chowdhury: It is difficult to say in one sentence about the matter. When the use of mobile phones started to increase 20 years ago today, it affected many aspects of the economy. This is still the case. Not only the economy is affected by the sale of smartphones, but the use of smartphones in various fields including the country's content or e-commerce market is also a part of the economy. So all things considered, it must be having a positive impact.
Let's end with Xiaomi's factory context. You said that the factories are producing almost half of their capacity. Is it possible to export using the additional capacity?
Ziauddin Chowdhury: That is also possible. But it is by no means possible to go far with the processes that are going on in terms of exports at present. Currently the smartphone market in the world is like 500 billion dollars. In 2032 it will stand at about 1 thousand billion. So we have to prepare for the international market. All concerned including the government
Work has to be done to create this market. The world's number one brand has now set up their manufacturing facility in India for export. By 2023, they would export nearly $5 billion from India. By the end of this year it will stand at 15 to 20 billion dollars. So the government and stakeholders of that country had a long term plan. It is important for us to take such initiative here as well.
