Poco wants 60% business growth this year because of 5G

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The smartphone company Poco expects a growth of 60% in its business this year due to the upgrade from 4G to 5G of mobile phones and its focus on aggressive pricing and design strategy, according to the company’s India Country Head, Himanshu Tandon.

This also means that most of the Poco smartphones from now will support 5G connectivity. A move that makes sense, because already most mid-range chipsets now support 5G. It remains to be seen if users will upgrade their entry or mid-range phone so they can enjoy 5G.

poco c50 press release image

Tandon also stated that the sub-Rs 10,000 (around 122$ USD) smartphone segment will be most impacted by inflation and currency depreciation, but there will be strong competition in the Rs 20,000-Rs 30,000 mobile phone segment, which is where the real innovation is happening.

Poco will launch its Poco X5 Pro 5G smartphone with Qualcomm Snapdragon 778G processor in the price range of Rs 20,000-25,000 next month. The company plans to diversify from online to offline sales and ramp up production capacity in India by 30 lakh smartphones this year.