Mi Smart Upgrade: Here’s how you can get up to 70% buyback value for your old Xiaomi phone

By: |
November 5, 2020 3:13 PM

Mi India Chief Operating Officer Muralikrishnan B said that as a brand, Mi has always kept its focus on bringing new propositions for the consumers, which is why they have come up with another one.

Users can avail the plan at authorised retail outlets of Mi.

Mi India: Festive season to get more exciting as Mi India announces buyback scheme! Smartphone and smart TV brand Mi India has announced a buyback scheme called Mi Smart Upgrade for Redmi and Mi devices. The company has said that with this scheme, it hopes that users wishing to switch to newer models of Redmi or Mi products would be able to do so at affordable prices.

Mi India Chief Operating Officer Muralikrishnan B said that as a brand, Mi has always kept its focus on bringing new propositions for the consumers, which is why they have come up with another one… just in time for the festive season. The scheme is an assured buyback offer, the executive said, adding that the company is sure this would allow technology loving customers to get the experience of innovation with new Mi smartphones, while also keeping the upgrade more affordable, convenient and easy.

Mi India said that the users in India, on an average, have a tendency to change their device every year. The value of a phone declines immediately after it has been purchased, which is why the company took cognisance of the fact that the resale value of smartphones is very low, causing significant loss to the consumers. Hence, they came up with the Mi Smart Upgrade scheme.

How does the Mi Smart Upgrade scheme work?

Under this buyback scheme, users would have the option to encase their Mi or Redmi device at any point of time between three months and 15 months of purchase. The exchange value would range between 40% and 70% of the phone’s suggested retail price (SRP), the company said. Here’s how the value would vary:

  • Exchanging a device between four to six months of purchase would result in users getting up to 70% of the assured value.
  • Exchanging between seven and nine months would result in encashing up to 60% of the value, while between 10 and 12 months would get users up to 50% of the value.
  • Choosing to exchange the device between 13 and 15 months from the date of purchase and final billing would lead to the user being able to encash up to 40% of the assured value.

The company also stated that the users would be able to encash the assured buyback value of 40% of the SRP even once the warranty of the product has expired, up to 15 months from the date of purchase.

Users can avail the plan at authorised retail outlets of Mi, and it can be activated with an easy enrolment process. The process requires “minimal documentation”, the company has said.

The buyback options can be purchased starting from Rs 399 for products like Redmi 9 Prime, and they go up to Rs 1,999 for premium smartphones, like the Mi 10, Mi India said. The add on can be purchased along with the purchase of the smartphone at all of the retail outlets authorised by Mi.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1India’s TWS market defies slowdown, witnesses 723% growth in third quarter; Check top earbuds brands, products here
2iPhone 12 Pro, iPhone 12 Pro Max demand has apparently surpassed expectations
3Motorola says it will launch India’s most affordable 5G smartphone on November 30