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Xiaomi has announced a new scheme aimed at offline consumers. Under this buyback scheme, users will get a 70% exchange value of their old Mi or Redmi phones when they upgrade to a brand new device.
This exchange offer will be available to users who log into Mi Home, Mi Studios, or a preferred Mi partner nationwide and will be useful for users who want to update their smartphones to the latest frequently.
According to the company, this scheme covers all phones in the Mi universe, from the Redmi 9 Prime to the flagship phones of 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 holiday sales. While Flipkart’s offering allowed users to upgrade to any device after the offer period, Xiaomi seeks to keep shoppers tied in its ecosystem.
How does the Mi Smart upgrade plan work?
The plan offers users the option of returning their existing device and the exchange value depends 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 also later. However, it is also available for a fee.
According to Xiaomi’s statement, this enrollment fee varies based on the price of the device you enroll in and ranges from Rs. 399 for devices like Redmi 9 Prime and goes up to Rs. 1999 for the Mi 10.
The company allows users to trade in their existing device after three months of purchase and will offer a 70% insured value on phones that are 4-6 months old. For devices that are between 7 and 9 months old, they are valued at 60% and 50% if the device is between 10 and 12 months old. Xiaomi offers this buyback offer for devices that have passed the warranty period and in case your phone is between 12 and 15 months old, you are entitled to a 40% refund value of the suggested retail price.
