Xiaomi launches a large-scale smartphone in South Korea.

From: Qianjiawang
Time: 2018-07-18
Summary: The Korean smartphone market is welcoming new players – Xiaomi, who has just listed in Hong Kong. It is reported that Xiaomi will cooperate with South Korea's two major telecommunications companies SK Telecom and Korea Telecom (KT) to launch a smart phone Redmi Note5 with a price of 299,200 won ($265). It is reported that South Korea's third largest telecom operator LGUplus did not sell Xiaomi's products, but according to the first financial reporter······
The Korean smartphone market is welcoming new players – Xiaomi, who has just listed in Hong Kong. It is reported that Xiaomi will cooperate with South Korea's two major telecommunications companies SK Telecom and Korea Telecom (KT) to launch a smart phone Redmi Note5 with a price of 299,200 won ($265). It is reported that South Korea's third largest telecom operator LGUplus did not sell Xiaomi's products, but according to the first financial reporter, the most mainstream operators in South Korea will cooperate with Redmi Note5.

For a long time, due to the uniqueness of its market and the growth of its own brand, South Korea was once called “the grave of foreign products” by experts. Whether it is Wal-Mart, Carrefour and other retail companies; or HTC, Sony and other electronic brands; even Tesla, HSBC and other world-class companies, have encountered Waterloo in South Korea. This time, can Xiaomi do it?

Xiaomi launches smartphone for the first time in Korea

For many digital enthusiasts in Korea, Xiaomi is not a strange word - four out of every ten charging treasures used by Koreans come from Xiaomi.

“In the eyes of many Korean people who know digital products, Xiaomi has been called a “God-level” product. Even in the Korean university courses, there are many more courses about the success of Xiaomi.” Li Guoxian, School of Political Science and Economics, Korea University, Korea The professor told the First Financial Reporter.

However, this time Xiaomi is challenged by the Korean industry leader Samsung Electronics' main product, the smart phone.

On the 16th of this month, Xiaomi and his Korean distributor G-MobiKorea jointly held a promotion meeting to officially introduce the Redmi Note5 smartphone to the Korean market.

Zheng Chengxi, a representative of G-MobiKorea who attended the promotion meeting, told the media that the whirlwind that Xiaomi had caused in the Korean market was mainly based on the affirmation of cost performance. He promised that he would not abandon the cost-effective strategy of Xiaomi's products. This is also regarded by the industry as Xiaomi's law in South Korea that will not repeat the price increase of imported mobile phones into the Korean market. Previously, smartphones from internationally renowned manufacturers such as Huawei and Sony, after entering the Korean market, had a relatively large price increase compared with the global average price, which caused some consumers' dissatisfaction.

The first financial reporter learned that the ex-factory price of the Redmi Note5 model in South Korea was 299,000 won (about 1780.6 yuan), although slightly higher than the price of 1099 yuan in mainland China, it is still lower than the majority of the quasi-flagship in the Korean market. Level of price.

It is worth noting that this time, Xiaomi's launch of Redmi Note5 in the Korean market is well prepared. In addition to the original sales channels, this red rice Note5 will also be launched through Korea's two major telecommunications companies SK Communications and Korea Telecom (KT). Cooperation.

In addition, Xiaomi has expanded its after-sales service network in Korea and announced that it has cooperated with Korean audiovisual equipment manufacturer iriver to provide more perfect and thoughtful consumers with its 9 direct maintenance service stations in Korea. After-sales service, and before Xiaomi mobile phone in South Korea only has an after-sales service station in Gangnam District, Seoul.

Market test water has obvious meaning

Xiaomi’s previously published data shows that the company’s proportion of overseas revenues continues to increase, mainly because the company began to promote its internationalization strategy in 2014 and has successively deployed in emerging markets such as India, Southeast Asia and Eastern Europe. At present, Xiaomi mobile phone has entered 74 countries and regions, and it has entered the top 5 in 15 countries and regions.

However, some insiders pointed out that it is not easy for Xiaomi to really enter the Korean market. In particular, faced with the overwhelming advantage of Samsung Electronics, overseas brands have long been unable to take advantage of the Korean smartphone market share.

Data shows that Samsung, Apple and LG account for almost 99% of the Korean smartphone market.

A Korean communications company told the First Financial Reporter that the red rice Note5 launched in the Korean market, "although it seems that the market reaction is not big, but the success of this is likely to determine whether the Xiaomi mobile phone can It is firmly in the Korean market. Not only is Xiaomi itself and the Korean communications company, many competitors are also concerned about the success of this 'battle'."

However, this person seems to be not very concerned about the pricing problem that some consumers question. He said that “in Korea’s smart phones, the subsidies of communication companies dominate the success or failure of sales, according to the Korean Communications Corporation’s maximum 200,000 won. The subsidy cap is calculated, so in fact, the price of the consumer buying Redmi Note5 will be equal to or even lower than the price in mainland China."

This person believes that Xiaomi seems to understand that the success of this red rice Note5 in the Korean market is likely to determine the development of the Xiaomi brand in Korea. Therefore, Xiaomi tries to solve many of the products that have been used by Korean consumers. The details of the disease.

"For example, before the Xiaomi mobile phone had only one repair station in South Korea, and Samsung Electronics had a total of 186 repair stations in South Korea, which is obviously difficult to meet the high vision of Korean consumers; for example, the sales of smartphones in the Korean market More than 80% of the smartphones are sold in the form of contract subsidies through the communication company channel. In a country where even Samsung’s flagship machine can receive a subsidy of 200,000 won, only the millet that can purchase the machine in full is obviously at a disadvantage. The person said frankly.

The person told the First Financial Reporter: "It can be said that although the Korean market is small, its customers have more knowledge and experience, and they are undergoing faster renewals. These special market characteristics have given them many The unique significance is why many overseas smartphone manufacturers have chosen to enter the Korean market. Unfortunately, few manufacturers including Huawei, Motorola and Sony have achieved meaningful results in Korea. It is not difficult to understand why Xiaomi’s attempt is worthy of high attention from the market.”

"The grave of foreign products"

At the same time, the unique exclusivity of the Korean market has also given a certain meaning to the impact of Xiaomi.

Li Guoxian told the First Financial Reporter that South Korea has been called "the grave of foreign products" by experts because of its unique market and the growth of its own brand.

“However, Xiaomi relied on a charging treasure and took a leading position in the Korean market. According to relevant data, from 2015 to 2017, Korea’s polymer mobile power market grew at a rate of about 25% per year, while Xiaomi The mobile power supply once occupied nearly 80% of the Korean charging treasure market. Xiaomi has become a synonym for mobile power in South Korea. It can be said that the popularity of a product directly drives the Xiaomi ecological chain in the Korean industry. Concerns." Li Guoxian said.

“Since Xiaomi Charging Baotou City, our market share has been greatly affected.” A person in charge of a local Korean charging treasure manufacturer who asked not to be named said to the First Financial Reporter, “To this end, we can only pass Introducing a more diverse design, installing two USB charging ports, and supporting QuickCharge fast charging, and adjusting the price to the price of Xiaomi charging treasure to cope with the severe test of the market."

The First Financial Reporter also found that there were not only mobile phones at the Red5 Note5 conference, but also for Xiaomi's electric toothbrushes, air purifiers, millet bracelets and other products that seem to have nothing to do with mobile phones.

In this regard, Li Guoxian believes that when the mobile power source received attention, the people naturally also paid attention to other products of Xiaomi, and because of the lack of the mid-end products of Korean local brands, they were sought after and welcomed by some Korean people. It seems that Xiaomi's entry into the Korean market through the total generation will benefit the improvement of Xiaomi's use environment in Korea and the increase in brand experience. This also means that Xiaomi has a strong interest in the expansion of the ecological chain."

However, there are also people in the industry who are worried about Xiaomi's development in South Korea. He said that compared with Korean domestic products, China's manufacturing industry has obvious advantages while at the same time, its competitiveness is also very simple - high cost performance and specific product groups. Whether it is Xiaomi, Huawei or Haier, there are still quite few products that have gained monopoly or market dominance in the Korean market, and the secret of winning this small part of the product is more "cost-effective." So far, the threat of Chinese manufacturing to the Korean market is still limited, and Korean high-tech products are still higher than China. However, what these products are called “new” Chinese-made products, what South Korea should be wary of is not the product itself, but the innovation phenomenon behind it.

Article source: Qianjiawang


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