Xiaomi India Revenue Will Be More Than $2 Bn In 2017
Xiaomi India Revenue Will Be More Than $2 Bn In 2017

Xiaomi Managing Director Manu Kumar Jain Said “Xiaomi India is going to exceed the $2-billion revenue mark this calendar year and is confident of maintaining this tempo next year as well with its offline expansion and product launches beyond Smartphone. Company has notched up record sales this year in India, including selling four million handsets in the one month period of Diwali which is the first ever for any Smartphone brand in the country. Xiaomi, which last year had $1-billion sales, shared the number one position in Indian Smartphone market with Samsung in the last quarter. We are closing our books now, but pretty sure to exceed $2-billion this year. As far as market share’s concerned, we have 50% share in online sales and 23.5% in overall market and we became number one last quarter. We are looking at leadership position in India for the long run. Xiaomi has formed a separate product and R&D team to customise the products for the Indian market and even redesign them completely to make them suitable for the country.”

Jain also said “For instance, our electric scooter will require a complete redesign since it’s suitable for Chinese road conditions. Similarly, we need to add a storage tank in our water purifier to sell in India since consumers want storage capacity. Xiaomi is going to enter two categories next year and is aggregating local content that will be bundled with its smart TV. TV is a space where we want to enter. We are building the content by virtue of our stake in Hungama. Around 95% of our smartphones are made in India. We will further expand our Smartphone capacity next year and build component sourcing base in the country.”

 
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