Chinese mobile phone giant Xiaomi, is in the works to expand its offline business after Manu Jain, VP Xiaomi, announced the company's plans to open 100 retail stores in India. The first of these stores opened in Bengaluru and was met with tremendous success on the very first day. The offline outlet called as Mi Home is already established in a number of stores in China and other south Asian countries.
The company has planned to open retail stores in the cities of Delhi, Mumbai, Hyderabad and Chennai. Xiaomi also has plans to increase the number of service centres to 500 from 225.
The Chinese firm had forayed into India through the online route, which contributes over 90 percent of its sales in India. Xiaomi has now become the top most player in the online market with an immense share at 41 percent and a 14.2 percent share in the overall market in the first quarter of 2017. They have also crossed $1 billion in revenue over the past one year. The bulk of Xiaomi’s profits come from their flagship series of Redmi phones.
The company had setup its second manufacturing plant in India and would be open to setting up more facilities if the demand for its products continues.
Published Date: Jun 06, 2017 01:29 pm | Updated Date: Jun 06, 2017 01:29 pm