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Xiaomi’s Mi today announced a new buyback scheme for Redmi and Mi devices called Mi Smart Upgrade.
The scheme is meant to help users purchase new devices at an affordable price point.
With Mi Smart Upgrade, users can encash their device any time after three months and within 15 months of purchase. The exchange value of the device will range from 40 to 70 per cent of the SRP of the phone subject to terms and conditions.
With this plan, users can get up to 70 per cent of assured value within 4-6 months of encashment. The scheme offers 60 per cent of value for devices encashed within 7-9 months, 50 per cent on 10-12 months and 40 per cent on 13-15 months, from the date of purchase and final billing.
“Users can get an assured buyback value of 40 per cent of the suggested retail price even after the warranty expires till 15 months from the date of purchase of the old device,” Mi said.
Mi Smart upgrade will be available as an add-on along with their phone purchase at all Mi Authorised Retail outlets. Users can enroll in the plan and can purchase these buyback options at a price based on the device. Plans start at ₹399 for devices such as the Redmi 9 Prime going up to ₹1,999 on premium smartphones like Mi 10.
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