SPLURGE, WAS THE BYWORD IN THE LUXURY TECH MARKET

Technological fare glittered the most during the festive season, offering big spenders avast array of choicesin mobile phones, tablets, watches, television sets, refrigerators and even expensive earbuds and fitness bands. Sahil Mohan Gupta takes stock of the luxury tech market

- Sahil Mohan Gupta

THE FESTIVE SEASON is a time for indulgence and of course, gifting. This year the consumer electronics market seemed to sparkle the most. The electronics market itself seems to be in the throes of a transformation, with more and more consumers veering towards high-end products. The October to December span of festivals is traditionally a time for celebratory purchases and 2024 has brought a clear shift towards premium gadgets and appliances, as the country’s growing middle class embraces high-end technology. Brands like Xiaomi, OPPO, vivo, Haier, and Apple are capitalising on this rising demand from consumers eager to upgrade their lifestyles.

Xiaomi: Smart Homes

For Xiaomi, the festive period is a prime opportunity to showcase its premium products, particularly in the home entertainment segment. The brand has recorded a 30 per cent increase in the large-sized 4K television segment, signalling a strong demand for high-quality home entertainment systems. According to Anuj Sharma, Chief Marketing Officer of Xiaomi India, “Consumers are keen on buying products that add value to their lifestyles.”

Xiaomi has introduced Rs 1,000 crore worth of festive offers across its product range, with its Xiaomi Pad and Pad Pro 5G seeing heightened interest during the 70-day festive period. This demonstrates how Indian consumers are increasingly investing in smart home devices to enhance their living spaces, making Xiaomi a key player in the premium home entertainment market.

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