Xiaomi has announced a new scheme targeting offline consumers. Under this buyback scheme, users will get a 70% exchange value of their old Mi or Redmi phones when upgrading to a new device from the brand.
This trade-in offer will be available to users who walk in at a Mi Home, Mi Studios or a Mi preferred partner across the country and will be helpful for users who like to upgrade their smartphones to the latest ones frequently.
According to the company, this scheme covers all the phones from the Mi universe starting from the Redmi 9 Prime to the flagship phones from the Mi 10 series. Interestingly, Poco devices are kept out of this scheme.
To recall, even Flipkart announced a similar plan in collaboration with Samsung during the recently concluded festive sales. While the Flipkart offer allowed users to upgrade to any device after the offer period, Xiaomi is looking to keep the buyers tied in its ecosystem.
How does the Mi Smart Upgrade plan work?
The plan offers the users an option to return their existing device and the exchange value is dependent on the age of the device. The offer will be available for devices that are enrolled in the plan, which can be done at the time of purchase or later as well. However, it is also available for a fee.
According to the statement by Xiaomi, this enrollment fee varies based on the price of the device being enrolled in and ranges from Rs. 399 for devices like Redmi 9 Prime and goes all the way up to Rs. 1999 for the Mi 10.
The company allows users to exchange their existing device after three months of purchase and will offer 70% assured value on phones that are 4-6 months old. For devices that are 7-9 months old are valued at 60% and 50% in case the device is between 10-12 months old. Xiaomi is offering this buyback offer for devices that are past their warranty period and in case your phone is 12-15 months old, you are entitled to a cashback value of 40% of the suggested retail price.