Xiaomi is going to increase its spending in India as the Chinese smartphone maker has huge plans in the country. Co-founder and president of Xiaomi, Lin Bin said that he will be devoting a lot more time to India.
Lin also believed that the smartphone market in China would be flat, if not on the decline. It has also partnered with Foxconn, world's largest contract manufacturer, which now makes 75% of the company's phones at its plant in Andhra Pradesh. Xiaomi designs, develops, and sells smartphones, mobile apps, and related consumer electronics. Last year, the Chinese brand launched Mi 4i, a phone specially made for India.
Xiaomi has reportedly sought permission to set up single-brand retail stores in India - but that only seems to be a part of its plans for the country. Xiaomi recently released their phone Xiaomi Redmi Note 3 starting at ₹9999.
With the application for license being the only update, Xiaomi is now hunting for sites and is in discussions with some of the states to get at least one facility running by the end of the year.
Lin also said Xiaomi was steaming local operations in terms of R&D for India-specific products and after sales services. Xiaomi has already begun working on getting a few of those local suppliers to India.
Xiaomi has however started 2016 with a bang having launched the impressive Redmi Note 3 earlier this month.
Besides investing in Indian start-ups, the company, last valued at $45 billion, is also actively talking to content owners and makers to curate content for Indian buyers which will find its way onto Mi devices sometime this year, Lin said.
Now, the company is planning to open two more factories here. "In India, there are 170 brands and its going up...it will drop to 30 here too because it's not sustainable", he said.
Speaking about competition, Lin said he was confident of taking up the rivals.
Source: Xiaomi to build 2 plants in India, release more devices
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