Finance Xiaomi Redmi Y1 makes little sense now that Redmi Note 4 is available for cheap

In the last one year, Chinese brand Xiaomi's market share in India has gone from just 6 per cent to a staggeringly high 22 per cent, according to Counterpoint Research. That puts its share at par with South Korean giant Samsung that has maintained a steady lead for a while now with 23 per cent market share. So much so that Xiaomi and Samsung now contribute to almost half of the Indian smartphone market. But while Samsung has been at home in India for a very long time now, Xiaomi has been here for only three years.

As of September 2017, three of the five most popular smartphones -- the Redmi Note 4, the Redmi 4 and the Redmi 4A -- sold in India were from Xiaomi, according to Counterpoint Research. The real star of the show has been the Redmi Note 4 though. It won't be wrong to say that the Redmi Note 4 has taken Xiaomi places as far as its Indian ambitions are concerned. The Redmi Note 4, in fact, still remains to be the gold standard to beat as far as value for money is concerned.

Xiaomi, however, can't rest its laurels on one Redmi Note 4 especially now that it's eyeing the top spot: it's eyeing to take on the long undisputed champion Samsung. And it can't do that unless it's willing to take some risk.

As such, Xiaomi's next breed of smartphones has to be as good, if not better, and different. The groundwork, some would say, has already started with phones like the Android One-backed Mi A1. The company has now launched the Redmi Y1: a Redmi phone with a whopping 16-megapixel front camera, an LED flash and smart photo-editing tricks courtesy Xiaomi's MIUI 9.

The Redmi Y1 is a little different from other Redmi phones in the market right now. Well until the Redmi Y1 happened, Xiaomi's Redmi phones were sold as a complete package and not on the basis of individual stand-out traits. It was this package deal that ensured Xiaomi was able to sell these Redmi phones by the dozen. The Redmi Y1, however, banks heavily on one trait: it's a Redmi phone designed from grounds up for taking great selfies.

Redmi phones, since the time of their inception here in India, have been all about low costs and noteworthy hardware. The Redmi Y1, however, is about low costs, noteworthy hardware, and an extra ounce of selfie-taking goodness. While low costs and noteworthy hardware have come to become a habit for Xiaomi, it's that extra ounce of selfie-taking goodness that sets the Redmi Y1 apart from any other Redmi phone in the market right now.

If you're someone who's looking to buy a good selfie phone, at dirt cheap prices, the Redmi Y1 can be a good option

If you're in the market specifically looking for a selfie-centric phone and you're on a tight budget, the Redmi Y1 is the one and only option you have right now. That it offers fast and reliable performance is just the icing on the cake.

Xiaomi's new kid on the block, however, fails to make a mark in almost all the other departments. It has questionable build quality, a lackluster display, a disappointing rear camera, and just about borderline good battery life. While its closest siblings -- the Redmi 4 and the Redmi Note 4 -- were all about all-round indulgence for cheap, the Redmi Y1 ends up looking like a pile of compromises at similar prices.In short: the Redmi Note 4 still remains to be the gold standard to beat as far as value for money is concerned. Even more so because Xiaomi just announced a permanent Rs 1,000 price cut on it.

Post the revision, the 3GB RAM, 32GB storage version of the Redmi Note 4 will retail for Rs 9,999 while the top end 4GB RAM, 64GB storage version will be available for Rs 11,999. The offer seems to be applicable only for online purchases, via Flipkart and Mi.com/in. It is yet to be seen whether the Redmi Note 4 being sold via offline stores like Xiaomi's own Mi Homes will be subject to a similar price cut.

If you're someone who's looking for an all-rounded phone that gets almost everything right, the 3GB RAM, 32GB storage version - that costs Rs 9,999 now - is the way to go

Interestingly, the 2GB RAM and 32GB storage version of the Redmi Note 4 hasn't received a price cut and is still available at its launch price of Rs 9,999 Mi.com/in. Although, on Flipkart, the same 2GB RAM and 32GB storage version of the Redmi Note 4, is seen carrying an updated price of Rs 8,999 (down from the original Rs 9,999). The 2GB RAM, 32GB storage version of the Redmi Note 4 is out of stock on Flipkart but can still be purchased from Mi.com/in but at its original launch price. This means both the 2GB RAM, 32GB storage and the 3GB RAM, 32GB storage versions of the Redmi Note 4 are now available for buying at the same cost, which is Rs 9,999, on Mi.com/in. This is probably because Xiaomi doesn't want a clash with the Redmi Y1 that it has launched at a starting price of Rs 8,999 for the 3GB RAM, 32GB storage version, going all the way up to Rs 10,999 for the top-end 4GB RAM, 64GB storage version.

To sum it up:

If you're someone who's looking to buy a good selfie phone, at dirt cheap prices, the Redmi Y1 can be a good option. The 3GB RAM, 32GB storage version - that costs Rs 8,999 -- should serve you well.

If you're someone who's looking for an all-rounded phone that gets almost everything right, the 3GB RAM, 32GB storage version - that costs Rs 9,999 now - is quite the steal.

If you're someone who's looking for an all-rounded phone that gets almost everything right, and you're on an exceptionally tight budget - meaning you want to save that extra Rs 1,000 that you would spend buying a Redmi Note 4 - the 3GB RAM, 32GB storage version of the Redmi 4 - that costs Rs 8,999 - is the Xiaomi phone that you should consider. The only drawback would be that it comes with a smaller 5-inch screen - as opposed to the Redmi Y1 that comes with a 5.5-inch display - but because the Redmi 4 aces the Redmi Y1 in almost all the other departments - including the fact that it has a better quality screen - the Redmi Y1 simply doesn't add up.