Xiaomi's India sales cross $1-billion mark two years after entry into country
The China-based firm has increased its focus on the world's largest-growing smartphone market, even as it has failed to meet sales targets at home.
Xiaomi’s sales in India have crossed $1 billion (approximately Rs 6,786.05 crore), two years after the China-based company first entered the world’s largest-growing smartphone market, Bloomberg reported on Thursday. The company said its shipments to country grew by nearly 150% in 2016, with sales of two million smartphones in the third quarter.
Xiaomi’s head of India operations Manu Jain said the company’s smartphone sales increased significantly after it expanded into the offline market, The Economic Times reported. Jain said the company also plans to scale up its investment and manufacturing facilities in the country, as well as expand its product range. “No company has achieved such numbers in the history of India,” Jain said.
The company assembles around three-quarters of its mobile devices sold in India under the government’s Make in India scheme. It has increased its focus on the country’s market, even as it has failed to meet sales targets in China. Xiaomi has also begun an expansion into the United States market.
