"This trend in the ultra-premium market is ubiquitous across regions, despite inflationary pressures. This is because affluent consumers are not affected by the current economic headwinds. Hence, the low-to-mid-price segment has been hit hard by the recent macro headwinds while the high-price segment still looks solid, further boosting the ASPs. Also, the increasing number of financing schemes and a growing ecosystem of trade-ins and EMIs are also helping consumers to upgrade their devices without paying the total price upfront."

Xiaomi Sets Its Eyes On Premium Market With Poco