Xiaomi Mi Exchange programme launched in India, but read the fine print

Xiaomi Mi Exchange programme: Here’s how it works

Xiaomi has introduced a new trade-in programme which will allow users to exchange their old smartphones for a new phone. The Mi Exchange programme is designed for the Indian market and the company has partnered with Cashify to make sure the whole process runs smoothly.

Mi Exchange programme is intended for those who are looking to exchange their old smartphones. All you need to take an old smartphone to any of the company’s Mi Homes. At the store, the Cashify team will inspect the device and propose an estimated price based on the condition. The amount then can be used against the price of the smartphone which the user plans to purchase. However, the newly launched Mi Exchange programme comes with the terms and conditions.

First and foremost, the device a user wishes to exchange should be in Cashify portfolio. Plus, the customer can exchange only one device at a time. The resale value of the device is based on Cashify’s inbuilt application and cannot be negotiated. The customer gets an e-receipt through Cashify for his old phone, and once the exchange process is done, no further changes will be made. Additionally, Cashify is also offering a pickup service of the old phone, in  that case the customer has to pay the full amount at the store during the time of purchase. The Cashify team them schedule a pickup call and will send an executive to collect the device as per the decided time.

Xiaomi has made its clear that it has no role to play in the process, as all issues are addressed by Cashify. The exchange can be availed at Xiaomi’s Mi Homes across the country. The company has around 12 Mi Homes in major cities in India. Xiaomi plans to open over 100 Mi Homes in India in the next 2 years.

The company is giving tough competition to South Korea’s Samsung in the Indian smartphone market. According to International Data Corporation (IDC), both Xiaomi and Samsung now hold 23.5 per cent of the smartphone market in India. In a matter of few months, Xiaomi managed to challenge Samsung, which has been an undisputed king in the smartphone market in India. The company’s Redmi Note 4 has been the most popular smartphone in the Indian market today.