In a bid to expand its hold in the Indian smartphone market even further, Xiaomi is planning to set up two manufacturing plants in the country in 2016, according to a latest report from the Economic Times. The Chinese smartphone maker is also looking forward to launch more devices in India this year.
Bin Lin, Co-founder and President at Xiaomi told the publication that the company plans to manufacture handsets, peripherals and components in India. He said that the company expects to sell around 140 million devices in 2016 as against to around 100 million sold last year. Xiaomi teamed up with Foxconn last year and rolled out the Redmi 2 Prime from its Sri City manufacturing plant in Andhra Pradesh. This was company’s first smartphone under the ‘Make in India’ initiative. Foxconn is now responsible for 75% of Xiaomi’s phones at its Sri City Plant and the company sells well over 1 million phones a quarter.
Giving further insights on the company’s plans for India, Lin said that talks are going on with Foxconn regarding the set up of the two smartphone facilities. Xiaomi India head Manu Jain stated that the company is pushing to get “at least one of facilities kick start and running within this year”. He even mentioned exciting opportunities for single-brand retail licence in India and as per PTI report, the company has filed for one with the Department of Industrial Policy and Promotion (DIPP)
Xiaomi recently launched the Redmi Note 3 in India and announced that it will bring its flagship Mi 5 to the country in April. Besides, the Mi 5, the company plans to release one device in the next quarter while another one in second half of 2016. In addition, Xiaomi also plans to enter new product categories this year. Xiaomi has already launched the Mi Bluetooth Speaker in India which will go for sale by the end of this month. While the Mi 5 will not be made in India, it is speculated to be priced between Rs 20,000 and Rs 27,000, based on China prices, added the report.
India pipped US to become the second largest smartphone market last month hence it makes sense that Xiaomi is bolstering its efforts to increase presence in the fiercely competitive smartphone market.