Xiaomi has introduced a new exchange program for its devices, under which users will be able to exchange their existing units with new Xiaomi smartphones. The company has tied up with Delhi-based Cashify for the Mi Exchange program. Also Read - Xiaomi 12, Xiaomi 12X, Xiaomi 12 Pro might launch by the end of this monthAlso Read - Cryptocurrency regulation bill: How worried are Indian investors?
Under the Mi Exchange program, if you are a Xiaomi user, you can visit a nearby Mi Home store, and buy a new Xiaomi phone in return. The exchange value will be determined by the Cashify team. The value of exchange will be offered as a discount for the new Xiaomi model. Also Read - Xiaomi 12 could become first smartphone to launch with Snapdragon 8 Gen 1 chipset
As Gadgets360 notes, the resale value of the handset in exchange will be based on the Cashify app. So for example, if you are purchasing the newer Xiaomi Mi A1 in exchange for the Redmi 3S Prime, you can simply check the exchange amount preview of the older device by visiting the Cashify site.
In addition to that, if you do not want to visit the Mi Home store, Cashify can also arrange for a pickup service of the older device right from the phone’s location. However, availing this benefit will require you to pay the complete amount for the new purchase at the Mi Home store, and the exchange discount will be credited to you at a later stage.
One must note that the exchange value will be determined on the basis of the condition of the device and market value, as is the guideline for most exchange programs. Further, only one device can be exchanged with an available Xiaomi smartphone at Mi Home, and the model being exchanged should be listed in Cashify’s portfolio. You can read more about the terms here.
The program is Xiaomi’s latest initiative to keep the Indian consumers hooked to its affordable yet feature-rich product portfolio. This week, the company announced its third manufacturing plant in India, which is also its first unit for non-smartphone category. Unlike the other two, this is dedicated to the production of powerbanks.
As per latest IDC estimates, Xiaomi is currently the number one brand in the smartphone category in India, and shares the top spot with Samsung. For a three-year-old company, achieving the leading position in a dynamic market like India is no less than a feat. The company now aims to increase its Make in India commitment to ensuring products are locally manufactured through an increase in manufacturing capacities.