Launched in collaboration with New Delhi-based Cashify, this initiative will allow Indian customers to exchange their existing handsets with new Xiaomi smartphones at the company's physical Mi Home stores.
The move aims at boosting sales for the offline channels, after having already proved its presence on online sales channels. Xiaomi will be depending on Cashify’s team to determine the value of phones that are offered to be exchanged and propose a suitable price for a new Xiaomi smartphone.
Cashify will also offer doorstep pickup facility, for which the customer will be required to pay the full amount of the new Xiaomi phone during the purchase at the Mi Home store and then schedule a pickup call for the old phone. The payment for their old models will be done at a later stage.
The resale value of the old phone will be determined by the Cashify team on the basis of its condition and market value.
Xiaomi marked its presence in the Indian markets in July 2014. According to data released by research firm IDC, the company has managed to prove its mettle and has become the number one smartphone vendor in the country.