Xiaomi to make new push into India
Chinese smartphone maker Xiaomi has unveiled its ambitious new plan for tapping the Indian market this year, reports Indian business publication Livemint.
The new plan reportedly includes Xiaomi launching six new smartphone models and establishing 100 new Xiaomi retail outlets.
Staff introduce Xiaomi products to customer at a Xiaomi store in Beijing, March 9, 2018. [Photo: VCG]
"Our journey in India has just started. We can achieve a lot more on every front," said Manu Kumar Jain, Xiaomi's head of Indian operations.
He said the company hopes to surpass the 2 billion US dollar threshold for revenues in the near future, and also plans to invest one billion US dollars into acquiring Indian start-ups.
"India is changing drastically. We really believe that India will become hugely digital in the next five years and we want to help promote that. We would want to increase the pace of investments to support these Indian companies. In India, we started with smaller investments...but if there's a need, we can do bigger ticket sizes," said Jain.
India is Xiaomi's second largest market.