After establishing the footprint in the affordable (Rs 6,000-Rs 20,000) price segment with stellar Redmi smartphones, Jain who is Managing Director, Mi India, is humbly taking on the likes of Samsung, Vivo, OPPO and OnePlus with Mi series of smartphones.
Look at initial sales numbers: Mi smartphones have cumulatively clocked over Rs 900 crore during their first sales, setting the cash registers ringing.
For the first time in the two years of its journey in India, Mi India became the third-ranked smartphone brand in the Rs 20,000-Rs 45,000 segment in April this year. In this segment, 'Mi' is now as big as some of the major competitors.
"We have seen a seven-time jump in 'Mi' market share across premium segment in India. This is just a beginning for us and we will strive to keep up with the demand of the users in this segment, delivering highest quality and innovative experiences for them," Jain told IANS.
Mi India is off to a flying start. Mi 11 Lite smartphone crossed sales worth over Rs 200 crore within the first week of its launch.
Mi 11X series of devices also witnessed a record sales worth over Rs 300 crore in just 45 days of its launch.
Earlier this year, Mi 10i did a record-breaking sale worth Rs 200 crore during its first sale across all platforms.
The company has launched five smartphones under the 'Mi' brand this year and Jain is ready to increase the portfolio in the rest of the year, with an aim to take the brand right on top in the premium segment.
Jain is humbled as he charts a new course for Xiaomi in India.
"I respect the current market leaders in the Rs 20,000-Rs 45,000 segment and aim to provide luxury blended with top-notch performance with Mi range of smartphones. Mi 11 Ultra 5G is our next best offering in the super-premium segment, available in India from July 7 at 12 noon," Jain informed.
With Mi 11 Ultra 5G which it calls 'Superphone', Mi India is entering a territory dominated by the likes of Apple, Samsung and OnePlus in the country.
Priced at Rs 69,900, The flagship offers several firsts on the camera front, like triple pro-grade primary camera setup (50MP+48MP+48MP), custom made GN2 camera sensor, Dual Pixel Pro technology and more, literally putting a DSLR in your pocket.
Mi 11 Ultra is powered by the flagship Qualcomm Snapdragon 888 mobile chip. The performance is further boosted with an advanced heat-dissipation structure, a new three-phase cooling technology developed by Xiaomi.
According to Jain, Mi 11 Ultra offers everything that a premium smartphone should, with industry-leading internals especially on the camera front.
"The device is another honest attempt from us to cater to an audience that loves top-of-the-line experience with solid internals," Jain told IANS.