Xiaomi is reportedly planning to manufacture TV sets in India in the hope of bumper sales figures, this Diwali.
According to a report in The Economic Times, Xiaomi will be selling locally made TVs in India as importing the same increases the price point by a significant number.
The Chinese electronics manufacturer has plans to dominate online sales during the 2018 Diwali season.
According to the report, Xiaomi will initially assemble the TV sets while it builds a local component sourcing base. Xiaomi’s industry executives told the Economic Times that making the TV sets in India will provide tax benefits, although they are unlikely to reduce television prices.
They are currently at an advanced stage of negotiations with Foxconn for manufacturing of TV sets.
"Xiaomi’s talks are in advanced stages with Foxconn for manufacturing televisions in India, which will start from July-August so that in the festive season (Diwali sales) it has mostly Made in India models,” said one of the executives.
Last month, they had to increase the price of its 55-inch smart TV by Rs 5,000 to Rs 44,999 due to import tax changes and depreciation of the rupee.
Foxconn is the largest manufacturer of Xiaomi smartphones in India and this move should help Xiaomi better its TV venture in India.