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Xiaomi's Revenue From India Market Will Exceed 2 Billion U.S. dollars And 100 Retail Stores Will Be Opened

Time:2018/3/16Posted:HK Shenyuan Technology Limited

According to foreign reports, China's smart phone manufacturer Xiaomi will release at least 6 smart phones and open 100 stores in India this year, and will soon release more new categories of products including televisions, and enlarge business  in addition to smart phone market.




Manu Kumar Jain, the global vice president and head of India operations of Xiaomi, said in an interview with Indian media that Xiaomi has become a prolific investor in India’s fast-growing startup ecosystem in recent years. In next 12 months, Xiaomi will actively acquire shares from Indian software and internet startups. In the next few years, Xiaomi will accelerate the pace of investment in India to complete the strategy of investing 1 billion U.S. dollars in Indian startups.


"Our development in Indian market is just on the beginning. We can achieve more success on each front,” said Manu. Under his leadership, Xiaomi’s current annual revenue in India has exceeded US$1 billion and will soon exceed the US$2 billion goal. However, Manu did not disclose when Xiaomi would achieve it.


And Manu did not mention how many companies Xiaomi would invest in the next 12 months. However, according to Xiaomi's five-year development plan for Indian market, it will invest an average of more than 20 Indian startups each year over the next four to five years.


Up to now, Xiaomi and its sister company Shunwei Capital have invested in 10 Indian start-up companies, including the social platform ShareChat and KrazyBee, an Indian version of  installment. "I really hope we can accelerate the pace of investment and invest in more Indian startups," Manu said. “The Indian market is changing very fast. We really believe that India will become very digital in the next five years. We want to help promote it. We are currently has very small scale of investment in the Indian market. But if there is demand, we will make a larger investment."


Xiaomi founder Lei Jun said in last November that the company will invest at least one billion US dollars in the next five years to 100 Indian start-up companies, and to build an application ecosystem regarding to Xiaomi smart phone brand. Xiaomi will invest in the initial and mid-term Indian startups in areas such as content, financial technology, hyper-localization services and manufacturing, etc.


Xiaomi is currently considering launching some new products in Indian market, but thinking of the unique nature of the market, no final decision has yet been made. “We have displayed smart scooters, smart bicycles, smart filters, smart body scales, smart rice cookers and many other products at Indian stores. and Indian consumers have been consulting us when we can publish these new products. First, it is not yet clear whether these products will perform well in Indian. Second, if new products are to be released, we are not sure how to adjust the products for the Indian market."


India is currently Xiaomi's second largest market after China. In the past year, Xiaomi employees in India has tripled. Manu said that in the next 12 months, Xiaomi's recruitment in Indian will continue to maintain this speed. Xiaomi currently has 26 boutiques in India and hundreds of franchise partners' retail stores. “Our goal is to promote more types of new products to the Indian market. At present, Xiaomi has started selling smart phones, smart TVs, smart bracelets, chargers, smart routers, smart air purifiers and other products in India.”


Xiaomi entered India in 2014. In the past 12 months, Xiaomi’s revenue has tripled. Market research company IDC statistics show that in the fourth quarter of last year, Xiaomi occupied 25% of India's smart phone market, ahead of its major rival Samsung Electronics. Although Xiaomi’s sales exceeded Samsung Electronics in the past two quarters, Samsung Electronics remains the largest smartphone manufacturer in the Indian market in terms of annual sales.

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