On average, in India, users tend to change their devices every year and the value of the phone depreciates right after the purchase of the device,” says Xiaomi. It appears real clearly, lent the high deals volumes all smartphone brands are shoving, actually with a lasting pandemic-induced financial recession. Thus, buyback policies are a decent means to protect the money influx unchanged and Xiaomi has almost declared openly one, phoned the Mi Smart Upgrade.
The Mi Smart Upgrade proposal is virtually a buyback policy begun by Xiaomi for its consumers. The proposal can exist sold with all new investments from Xiaomi’s smartphone portfolio. The corporation pledges buyback importance of up to 70 percent on Mi and Redmi smartphones, lent that the consumer boosts to a newer Xiaomi device. The proposal can be bought on all Mi retail openings.
Xiaomi has documented the Mi Smart Upgrade rates and periods in an official press discharge. Users can “encash their equipment any time after 3 months till 15 months of purchase, with trade value varying from 40 percent to 70 percent of the SRP of the phone.” Xiaomi says that users can buy up to 70 percent of the assured value within 4-6 months. For 7-9 months, the value drops to 60 percent. Buyers can get up to 50 percent under a period of 10-12 months and up to 40 percent on 13-15 months.
All these importance are able from the period of purchase and ultimate billing. Users can furthermore get a positive buyback value of 40 percent of the suggested retail rate actually after the contract terminates till 15 months from the date of purchase of the old device. Xiaomi says that users can purchase the buyback options starting at the price point of Rs 399 for affordable devices such as the Redmi 9 Prime. For high-end devices such as the Mi 10, the prices will go up to Rs 1,999