Xiaomi scales premium pricing and reinforces its premium smartphone lineup
Xiaomi recorded a 19% rise in the average price of its devices last year and plans to push this strategy further by strengthening its position in the high price segment, according to reports from the MyDrivers portal.
In China, Xiaomi demonstrates strong momentum with premium models gaining traction. Shipments in the premium category accounted for 20% of total volumes in 2023, rising to about 28% in the last quarter. This pattern signals the company’s intention to expand its share in the domestic premium segment, a move closely watched by market participants.
Analysts note that Xiaomi has solidified its stance in the mid to upper mid-range smartphone market, specifically in the 4000 to 6000 yuan band, which roughly translates to 51,000 to 76,000 rubles. The brand held 16.9% of the market in 2023, a gain of 9.2 percentage points versus 2022, and it led the same price tier with a 28.2% market share in Q4 2023, underscoring its aggressive push in mid-range premium devices — attribution: MyDrivers.
Xiaomi Group President Lu Weibing stressed that the company will continue to develop and reinforce its premium smartphone series this year. The outlook points to a broader inclusion of flagship devices in the 6000 to 10,000 yuan range and even higher price brackets, reflecting a sustained focus on higher-value models within the portfolio.
The flagship Xiaomi 14 Ultra, unveiled in February, carries a price of 6.5 thousand yuan in China and about 1,500 euros in Europe, placing it above the price point of several competing models such as the Samsung Galaxy S24 Ultra and the iPhone 15 Pro Max in several markets. This positioning aligns with Xiaomi’s premium push as it pursues a more lucrative segment and higher device margins. In industry discussions, the model has already been discussed as part of Xiaomi’s premium lineup evaluation, highlighting the brand’s strategy to monetize advanced features at top price tiers. It has previously been highlighted in market roundups as among the best smartphones under a premium price category, reinforcing its appeal among enthusiasts and early adopters — attribution: MyDrivers.
Overall, these movements reflect Xiaomi’s ongoing effort to balance robust growth with premium value, signaling a clear directional shift toward higher-end devices while maintaining a competitive footprint across mid-range segments for a broad user base.