iQOO: Redefining Smartphone Experiences
The inception of iQOO was not just a business venture; it was a journey fuelled by a vision to redefine the smartphone experience for the performance-hungry consumers of Gen Z and young millennials, according to Nipun Marya, Chief Executive Officer, iQOO India.
Marya says that the motivation behind starting this venture was from recognising the vast opportunities in the online space and a commitment to cater to the discerning preferences of the dynamic demographic with cutting-edge technology at competitive prices.
Over the last three years, iQOO observed significant trends shaping the mobile technology landscape. The demand for premium features in mid-range smartphones soared, reflecting a shift in consumer expectations. Aggressive pricing for feature-rich smartphones gained momentum, appealing to value-conscious consumers. Integration of AI and machine learning into smartphone functionalities became prevalent, enhancing user experiences. The emphasis on sustainable and eco-friendly practices influenced consumer preferences and the demand for 5G-enabled devices continued to rise.
In 2024, iQOO's focus centred on understanding customer needs, analysing the competitive market landscape and expanding the iQOO community for continuous engagement and feedback. The strategy revolved around impactful, purpose-driven campaigns to increase market presence and meet evolving consumer expectations, solidifying iQOO as the go-to brand for high performance.
On the other hand, the company’s last quarter proved exceptional, with festive sales surpassing expectations and all three series experiencing overwhelming responses. The iQOO 12 achieved the highest rating among smartphones on Amazon, showcasing consumer trust in the brand.
iQOO consistently secured the highest overall user satisfaction scores on platforms like Amazon and 91 Mobiles Survey for Android, Marya said.
She also said that building a successful business involves a clear and innovative vision, a culture of innovation and continuous learning, disciplined routines and meticulous planning. “Establishing robust relationships with stakeholders, customers and the teams is crucial for sustainable growth. Additionally, staying agile, embracing change and consistently delivering value are key ingredients for enduring success,” Marya added.
In a crowded market, iQOO stands out by providing transformative experiences, blending cutting-edge technology with an understanding of consumers’ nuanced needs, especially Gen Z. The focus on innovation, aggressive pricing and market trends positions iQOO uniquely in the segment.
The founder’s vision for India revolves around fostering an environment that nurtures innovation, inclusivity and sustainable growth. The factors contributing to India’s growth story include the resilience of its people, rapid technological advancements and a culture of collaboration. The youth of India, with their innovative spirit, drive economic advancement and global leadership.
According to Marya, one significant lesson in entrepreneurship learned by the founder is the ‘power of tiny gains.’ “Embracing continuous, incremental improvements has been transformative, emphasising the importance of consistency, adaptability and a relentless pursuit of improvement. This mindset has guided the iQOO team, driving innovation and excellence in all aspects of the business,” she said.
