Xiaomi to exploit Indian market with new plans of smartphones and appliances

Xiaomi India VP

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Chinese smartphone and appliances maker Xiaomi has been catching the headlines for its wide range of products since the launch of the new Redmi and Mi TV series. It now seems like Xiaomi will launch at least six smartphones in India this month. In an interview with Livemint, the Global Vice-President and  Xiaomi India Head, Manu Jain said that the company plans to launch at least six smartphones in the country and over 100 exclusive stores. He further added that the company would launch products in other categories in the near future and create a non-smartphone business through its new range of TVs.

Our journey in India has just started. We can achieve a lot more on every front. – Manu Kumar Jain, Xiaomi global vice-president and India head.

Jain also stated that Xiaomi has been a proliferant pioneer in India’s start-up scene. He said that the company plans to acquire stakes in multiple software and internet start-ups over the next year. The company also plans to increase the pace of its investments over the coming years as part of its strategy to invest $1 billion in Indian ventures.

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Last month, Xiaomi’s Founder and CEO, Lei Jun addressed a letter to all company employees. In the letter, he described the company’s expansion plans and what employees and customers can expect from Xiaomi in 2018. He also mentioned India in the letter stating, “India is an extraordinary example. According to multiple research firms, starting Q3 last year, our smartphone market share in India has become number one.”

According to the research firm IDC, Xiaomi, which entered India in 2014 and has tripled revenues from India over the past 12 months, accounted for 25% of smartphone shipments in the December quarter.

Via: Livemint

Xiaomi to exploit Indian market with new plans of smartphones and appliances