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Xiaomi said on Friday it has shipped over 100 million smartphones in India, its most important market, since beginning operations in the nation five years ago. The company cited figures from research firm IDC in its claim.
The Chinese giant, which has held the top smartphone vendor position in India for eight straight quarters, said its budget smartphone series Redmi and Redmi Note were its top selling lineups in India.
“It’s a testament to the love we have received from millions of Mi Fans since our inception. There have been brands who entered the market before us, yet are nowhere close to the astounding feat we have achieved,” said Manu Jain, VP of Xiaomi and MD of the company’s India business, in a statement.
As competition in its home nation intensified, India has emerged as the most important market for Xiaomi in recent years. When the Chinese firm entered the nation, for the first two years, it relied mostly on selling handsets online to cut overhead. But in the years since, it has established presence in brick-and-mortar market, which continues to drive much of the sales in the nation.
Image: Manish Singh / TechCrunch
Last month, Xiaomi said the company is on track to building presence in 10,000 physical stores in the country by the end of the year. It expects offline market to drive half of its sales by that time frame.
Even as smartphones continues to be its marquee business in India, Xiaomi has also brought a range of other hardware products to India and has built software services for the local market. The company has also donned the hat of an investor, backing a number of startups including local social network ShareChat, which recently raised $100 million from Twitter and others, fintech startups KrazyBee and ZestMoney, and entertainment app provided Hungama.
In recent interviews with TechCrunch, Xiaomi executives have said that they maintain a dedicated team in India that looks at opportunities in investing in startups.
More to follow…
https://techcrunch.com/2019/09/06/xiaomi-100-million-smartphones-india/