Xiaomi India spins off POCO as independent brand

By: |
New Delhi | January 17, 2020 4:30 PM

"POCO started as a sub-brand of Xiaomi in 2018 with a small team. Its first smartphone, POCO F1, was incredibly successful and remains an extremely popular phone till date," it added.

xiaomi, Xiaomi India, POCO, POCO F1, xiaomi POCOXiaomi Vice President and India Managing Director Manu Jain said POCO has grown into its own identity in a short span of time. (Reuters)

Smartphone maker Xiaomi on Friday said it is spinning off ‘POCO’ as a standalone brand. With this restructuring, POCO will run independent of Xiaomi with its own team and go-to-market strategy, a statement said. “POCO started as a sub-brand of Xiaomi in 2018 with a small team. Its first smartphone, POCO F1, was incredibly successful and remains an extremely popular phone till date,” it added.

Xiaomi Vice President and India Managing Director Manu Jain said POCO has grown into its own identity in a short span of time. “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,” he added.

Xiaomi led the smartphone shipment tally with 27.1 per cent share in the September 2019 quarter, followed by Samsung (18.9 per cent), Vivo (15.2 per cent), Realme (14.3 per cent) and Oppo (11.8 per cent).

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, 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
1Apple asserts commanding lead in tablet shipments in Q2 2021, latest IDC figures show
2Data Security: Bridging the air gap between data and its protection
3Fire-Boltt Talk Smartwatch: Workout buddy on your wrist