Xiaomi is the fourth largest smartphone maker in the world and is particularly popular in India. While it largely sells low and mid-range devices, in 2018 it launched the secondary brand Poco to compete with the high-end smartphones from Samsung, OnePlus and others. However, from the Pocophone F1, the brand has not yet launched another smartphone.
Xiaomi also has the Mi / Redmi sub-brands, created to sell smartphones, computers, TVs and other products in Europe and other markets. That brand has remained in-house, however, as Spin appears to be turning into a completely new company.
The details of the brand or its future products are still unknown, although the head of Poco Alvin Tse told TechCrunch in 2018 that Poco was working on other smartphones and product categories. It is also not clear what resources (production, marketing, etc.) will be shared by the new company with the parent company.
Little will join a crowded field in a relatively difficult market that hasn’t grown much in the past few years. Xiaomi itself is now building multiple premium devices such as the K20 Pro and CC9, so Poco will also compete with its parent.