Jagmeet Singh

Xiaomi on Tuesday launched Mi Exchange programme in India as part of its efforts to boost domestic presence and enhance its existing sales. The Chinese company has partnered with New Delhi-based Cashify to let Indian customers exchange their existing handsets with new Xiaomi smartphones. The new development emerges days after an IDC report claimed that the Chinese brand had joined Samsung as the top smartphone vendor in the country in the third quarter this year. Xiaomi has been focusing on the offline channels of late to expand its sales, and has introduced new products to keep its portfolio fresh.

Under the Mi Exchange programme, customers need to visit a Mi Home store nearby their location to buy a new Xiaomi smartphone in return of their old phone. The Cashify team will determine the value of the dated model and then propose a suitable amount that will be discounted for the new Xiaomi offering. The resale value of the handset in exchange will be based on the Cashify app. This means that you can get a preview of the amount you would receive on the exchange of your handset by heading over to the Cashify site.

Customers exchanging their old phones for a new Xiaomi smartphone can also opt for a pickup service from Cashify through which their dated handsets will be picked up right from their phone location. In this case, the customers will be required to pay the complete amount for their new purchase at the Mi Home store and Cashify will pay them for their old models at a later stage.

“In collaboration with Cashify, we have introduced a new programme – Mi Exchange which lets you exchange your old smartphone for a new Xiaomi smartphone. What you need to do is simply bring your old smartphone to a nearest Mi Home,” Xiaomi said while announcing the new development through its community forums.

It is worth noting here that the resale value of the old phone will be evaluated by the Cashify team on the basis of its condition and market value. Also, only one device can be exchanged with an available Xiaomi smartphone at Mi Home, and the unit being exchanged should be listed in Cashify portfolio.

Debuted in India back in July 2015, Xiaomi already has a strong presence in the market. While the affordable handsets are the key to the success of the Beijing-headquartered company, its expansion through online and offline channels has also helped in taking on the competition. The company established as many as 13 Mi Home outlets across the country in just seven months following the debut of its first brick-and-mortar store in Bengaluru in May. Earlier on Tuesday, Xiaomi announced the establishment of its third Indian facility that is specifically designed to manufacture power banks locally. The company partnered with Shenzhen-based HiPad Technology and launched the two Mi Power Bank 2i as the first creation of the new factory.