Chinese electronics company Xiaomi entered India in July 2014 and has already invested hundreds of millions of dollars in the country. After entering India, the company opened its first plant in August 2015.
Xiaomi is set to nearly triple the number of jobs it has created in India by 2020. At the Economic Times Global Business Summit 2017, Xiaomi's founder Lei Jun said India was one of the important markets for the company and it aims to create 20,000 jobs in the next three years.
Xiaomi founder, chairman and CEO Lei Jun met Prime Minister Narendra Modi and briefed him about their plan to expand business and their aim to create more jobs in the coming future. He also explained the concept of the Internetplus model, and the benefit that India companies can take from it. Further he said “This is the time for companies to use the Internetplus model to become disruptors in India. Whichever company is able to bring the best products at the most affordable prices, will win the market,”
Xiaomi desires to obtain its offline existence much higher by increasing offline market share to 50 per cent, after getting accomplishment in the online market in the India. According to analyst firm IDC, Xiaomi India has become the number one selling smart phone brand in the online market, with about 29.3 per cent share. At present 90 per cent of its sales are from online, while less than 10 per cent is offline. More than 95 per cent of Xiaomi smart phones sold in India are made in India.
The company lately announced opening of a second manufacturing unit in Sri City, Andhra Pradesh in partnership with Taiwanese electronics. The plant has created an employment for more than 5,000 people from over 100 nearby villages. More than 90 per cent of the employees working are women.
India is the second-largest provider to Xiaomi’s worldwide profits. So, the company has expanded its manufacturing in India to help meet high local demand. India is now the most significant market outside of China for Xiaomi.
April 04, 2017