Xiaomi India today announced a new smartphone buyback scheme that will be beneficial for customers that will remain in the Mi or Redmi ecosystem. It’s called Mi Smart Upgrade and under the scheme, Xiaomi guarantees customers an assured buyback price for their current phone when they upgrade to their next new Mi or Redmi phone. To opt in, the scheme starts at Rs 399 and will be valid for up to 15 months and up to 70% is the promised maximum buyback value in some cases. The scheme will be active starting today and potential customers will need to walk in at any Mi Home, Mi Studio, or Mi preferred partner stores to avail the offer.
How to enroll in the Mi Smart Upgrade program?
Besides the Rs 399 fee, Xiaomi says there is minimal documentation required to avail the offer. Although there is no mentioned detail, we presume there might be a basic KYC document involved. Since the customer would have to avail the offer at an offline store, Mi Redmi phones bought online are very likely not included under the offer. Other than that, there’s nothing more involved and it is pretty straight forward. Once the customer is enrolled, he/she will be sent the details of the plan he has access to via an SMS or email.
Which smartphones are included under the Mi Buyback program?
As of now, Xiaomi has mentioned the Redmi 9, Redmi 9 Prime, the entire Redmi Note 9 series, the Redmi K20 Pro, and the Mi 10/T series. Moreover, rates/fees for all these models is different. For the Redmi 9/Prime, it is Rs 399, for the Redmi Note 9 it is Rs 499, Rs 549 for Redmi Note 9 Pro, Rs 599 for Redmi Note 9 Pro Max and going up to Rs 1,999 on premium smartphones like Mi 10.
How long is the offer valid and what are the different buyback values?
The offer is valid for a maximum of 15 months. That period starts only after three months of the date of purchase. The buyback value is 70% of Suggested Retail Price (SRP) if the customer opts to redeem the buyback value within 4-6 months. It gets reduced to 60% SRP, if the customer avails the offer within 7-9 months.
Terms and Conditions
There are a few terms that will be needed to be eligible for the buyback. Just to mention a few, the device should be in working condition, not physically damaged or broken. If any part of the device is missing or replaced, the said device won’t be eligible for the offer. These are just a few of the mentioned buyback requisites mentioned on the official Xiaomi website. Besides this new buyback program, Xiaomi also has a previous tie-up with Cashify as well which will likely continue as it is. The new Mi Smart Upgrade plans can be availed as of today.