Little will seek to launch more differentiated products this year. (Photo credit: Saurabh Singh / Financial Express)
Poco will announce a new brand logo and mascot in India on Thursday, even as the Xiaomi spin-off seeks to shed certain aspects of its glorious past, aka Poco F1, and focus on launching what it calls greater alternatives to mainstream. . Rather than make celebrity ties that most brands, including Xiaomi, tend to do from time to time, Poco made a custom ‘Made of Mad’ emoji that absorbs a host of emotions ranging from intention to sharp wit. so you can reach a wider audience, and not just the average tech enthusiast.
In the future, Poco will seek to launch more differentiated products, although its general strategy not to flood the market with too many products will continue.
In a free conversation with Financial Express Online, Poco India Country Director Anuj Sharma explains the details of the brand’s renewed identity, what it means for fans, the future of Poco F2, 5G and more. Excerpts.
FE: What is the idea behind renewing the Poco brand identity?
Anuj: We would have done it before. After all, we became independent in February 2020. All of our communication, thus far, has been reminiscent of the days of Poco F1 (a phone that came out in 2018). We have had a similar type of communication for almost two and a half years, and now we are changing that to what we have been doing for the last year.
FE: But does that mean there is no Poco F2 now?
Anuj: We’ve said that ‘F’ is a core part of our series, so there are no plans to change that. I hope, with crossed fingers, that we have something that lives up to F1’s level of promise. Last year, our focus was expanding the portfolio, reaching a lot more people and having a sustainable business model because when you’re alone, you need something that helps you achieve different levels of volume, makes you more aware.
Furthermore, Read Poco becomes India’s 3rd largest online smartphone brand; Little F2, Little Pop Buds still on the cards, Little laptop not so much
Taking that call from (going) under $ 200 was probably the right one. It started with a business call, it became relevant because of the pandemic and frankly, in that space, the kind of hyper-connected brand that we’ve been, it might have turned deaf if we suddenly went and launched a 30-35K rupee flagship phone. . I know others have, but they have been there for the last 5-6 years (at least). That Poco went independent and then made these dull mistakes could probably have backfired. Last year wasn’t really the best time to ask people to stretch their wallets.
FE: What exactly does this renewed brand identity imply?
Anuj: From a pure marketing perspective, by having a unique identity, we should be able to shed certain aspects of the past and go and have a deeper connection with the audience than we already have. What we’re also seeing at this point is starting to engage with people who aren’t necessarily the core technicians. We want to create an attractive brand for them so that later on, if we need to expand beyond phones, things will be a little easier for us. Having a brand identity is also important because we have seen this too many times in the past that if a brand is the sum of its devices or launches, then you are only as good as your latest launch. As a brand, we try to go beyond individual products. This is particularly important today, when everything is quickly becoming a commodity.
FE: What does it mean for your products?
Anuj: One part is that we will continue to expand our portfolio, but at the same time, we really don’t want to release too many devices beyond that. We have ‘F’, ‘X’, ‘C’ and ‘M’ series, we would like to strengthen it further. Hope we can put a flagship back on this. At least so far, 2021 from a macroeconomic perspective, looks a bit better than expected.
We will also see how we can better differentiate our products. We’re obviously doing it with products like the M3, but that customization is still limited. The X3 still has many elements that are not available in any other product (at its price).
The world is not full of thinkers. It is full of equals. ????
We are preparing a mass of MADNESS
To make the world better ????????
(and less boring)
Add ???? ̶ fun powder to taste # MadeOfMad pic.twitter.com/lcIq1GKfuw
– Madder By the Minute (@IndiaPOCO) February 18, 2021
As Poco grows globally, hopefully we’ll have a few more differentiated elements, but if I take a step back, beyond the 2 percent of all of us who are super-tech-absorbed, I think most people don’t even it will. Know the difference between SD732 or even SD662 or something like that. They are just alphabets to them. So I think having the emotional connection with people becomes more important. Maybe it was not important 5 years ago, but as we move forward, I think it will become more and more important and that is where the whole part of the brand comes in.
FE: Where is 5G on your roadmap? Looking to launch 5G phones soon?
Anuj: I have a couple of concerns about 5G. The most important is that if we look at history, the whole 4G transition took 4-5 years to reach the masses (after the initial launch). Assuming things will be a lot faster with 5G, my biggest fear is that we haven’t had the auction yet and a lot is dependent on the auction. In terms of which frequencies will be delivered, which bands will be delivered, for the auction who picks them up. The 4G option used to have 7 or 10 different carriers. Right now, there are 3 operators that can operate nationwide. So there are a lot of questions that I don’t have an answer for, but from a brand perspective I’d at least like to wait until we have a little more information about the auctions, about the bands, before I start committing to the products. 5G for consumers. We don’t want to end up charging consumers for 5G hardware that they might not be able to use in the next few years.
FE: Do you have any offline expansion plans this year?
Anuj: Not yet. We’re definitely looking at that part, but at this point, we really don’t have the team size to be able to manage the expansion offline. The distribution part, the retail management, all of that needs a lot more people on the team and now we don’t really have that. So first we want to focus more on creating a separate identity for ourselves, hopefully continuing to deliver products that are well accepted by consumers and more importantly, good ratings from consumers. Then we’ll see.
Also read Poco mojo: understanding the Xiaomi spin-off brand, its product options, and its future goals, including monetization prospects
Get Live Stock Prices from BSE, NSE, US Market & Latest NAV, Mutual Fund Portfolio, Check Latest IPO News, Top Performing IPOs, Calculate Your Taxes with Tax Calculator Income, learn about the top market winners, top losers, and best equity funds. Like us on Facebook and follow us on Twitter.
Financial Express is now on Telegram. Click here to join our channel and stay up to date with the latest news and updates from Biz.