In 2018, Xiaomi managed to outdo OnePlus (as far as value for money goes) by releasing the powerful Pocophone F1 smartphone. For just $300, the phone supplied astonishing value for money with its Snapdragon 845 processor. Now, the Chinese company has announced that it’s spinning the sub-brand off into an entirely new company called Poco. Executive Manu Kumar said that the company feels that the time is right to let Xiaomi Poco operate on its own.
He also added that the Poco F1 remains a top contender in the value for money category. Xiaomi is the fourth-largest smartphone manufacturer in the world and is particularly popular in India. While it mainly sells low- and mid-range devices, the Xiaomi Poco sub-brand was launched in 2018 to compete with high-end smartphones from OnePlus, Samsung, and others.
However, since then, the brand has yet to launch another smartphone. Xiaomi also owns the Mi/Redmi sub-brands that manufacture everything from smartphones to computers and TVs, amongst other electronics. The Mi brand remains in-house; however, Poco will come out with new devices as an independent company.
No details about the brand or future products are known; however, the head of Poco, Alvin Tse, told TechCrunch in 2018 that the brand was working on smartphones and other products. It is also unclear what resources (marketing, manufacturing, etc.) the new company will share with the parent company. Poco will enter an already crowded market that hasn’t shown much growth in the last few years. For Poco to remain competitive in the market, it must come out with affordable, high-quality products fast.